This Gold correction will be limited

Phil Streible : I think the correction will be limited , I mean last week was panic buying in the Gold , now that's starting to come off , we are looking at some key levels of support , about a hundred dollars lower from that high so $1717 and bellow that is &1680 those are our support levels , but I think gold prices are going to stabilize they are waiting for tomorrow when France and Germany meet there is no expectation that anything will come out of it , I think it will really disapoint investors and they will come back into the gold market




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Bob Chapman : when we will get up to around $3000 , $4000 Gold will be swinging 200 to 300 dollars a day

Bob Chapman & Ted Anderson on Dr Deagle Show 10 Aug 2011

Bob Chapman : this super congress has to be challenged in a supreme court , we need to reinstate the Glass–Steagall Act now , we are on phase two of the gold bull run , this is going to be pretty wild , I have predicted some time ago that we will say swings of 20 to 40 dollars a day in gold and it happened and I said that after that it will come swings of 50 to a 100 , and it is happening , what's next ? when we will get up to around $3000 , $4000 it will swing 200 to 300 dollars a day do not get surprised , just anytime it comes down buy more says Bob Chapman of the International forecaster , the federal reserves notes are worth Nothing ....

Gold Outlook for 2011

Gold the ultimate reserve currency , Gold Price Per Ounce Predictions Over $2,000 by most investment ,analysts. Golds historic high is $2,400 if you adjusted for inflation based of 1980's gold price high. JP Morgan predicts $2,500 ounce, Bank of America Merell Lynch $2,000 ounce in next year. Whats is backing these predictions? Federal reserve - key interest rate low. to continue to 2013, quantitative easing, Trade deficit is now 4.4% or $53.1 Billion, 26.7 Billion with china alone. Chicago Mercantile Exchange raised margin requirements . In some parts of the world gold is viewed as the protector of wealth. In North America, gold is viewed as a speculative investment. Our economists regard a rising gold price as an admission of defeat, and their disparaging attitude toward higher gold prices took on a more desperate tone in 2010. Nevertheless, gold had another remarkable year, up 25% in 2010, its tenth straight annual gain. Meanwhile, over the same 10-year period, five major currencies -- the US and Canadian dollars, the euro, the British pound and the yen -- have lost between 70% and 80% of their value. In reality, gold is not rising; currencies are falling in value, and gold can rise as far as currencies can fall. Nick discusses the three dominant medium-term trends that pushed up gold prices in 2010 (central bank buying; movement away from the US dollar; China) as well as three longer-term, irreversible trends that will put upward pressure on the gold price for years to come (the aging population; outsourcing; peak oil). In addition to these trends, more and more investors will be competing to buy a shrinking gold supply. As safe-haven demand accelerates, there will be a transition from the $200-trillion financial asset market to the $3-trillion aboveground gold bullion market. About half of that $3 trillion is held by central banks as reserves; the remainder is privately held, and not for sale at any price. If the world's pension and hedge funds moved only 5% of their assets into gold, it would trade at over $5,000 per ounce. Nick's conclusion: Without any new financial crises, both mid- and long-term trends indicate that gold -- and silver -- will continue rising through 2011 and well beyond.