Gold Price Shining Bright

Gold Price Shining Bright
David Urban
blog.myspace.com/global112

Newmont announced on Wednesday that they were going to acquire Canadian Gold Miner Miramar for $1.53 billion dollars. Miramar’s primary asset is a massive gold area in the Hope Bay area of Canada’s Nanavut territory where the total resource size may be in excess of 10 million ounces. At $1.53 billion dollars, Newmont is roughly paying $153/oz for each ounce of gold.

Expect more consolidation between gold majors looking to add significant deposits due to declining mine production and mid-tier gold companies looking to consolidate and become the next major.

Among the investment banks, UBS raised their target gold average to $760/oz in 2008, up from $650/oz and $700/oz up from $550/oz. and Citigroup just raised their average gold price for 2009 to $800/oz and $820/oz in 2010. The 2008 estimate of $750/oz remained unchanged. I see gold up 20% in 2008 and maybe another 10% in 2009.

A lot depends on the US elections but the trend is up. The Gold Price should retest the old high sometime in the 2nd quarter of next year with new highs made late in the year. 2009 should bring a test of the $1,000 level. After that the sky is the limit.

The gold longs have been holding strong in the face of some serious selling which looks to be drying up. This may signal the end of Central Banks ability to keep down the gold price. The key here will be capitulation by the jewelry buyers. Stores in India have been switching to costume gold jewelry and China is encouraging silver and palladium.

The central banks may just decide to step aside as they realize that as the US destroys its currency and they are forced to defend their own it makes no sense to sell gold into the market.

Last week I read an interesting article which bears mentioning for the long-term price of gold. Indian Union State Minister for Mines T. Subbarami Reddy told a seminar in India that the Indian Central Government has decided to stop the importing of gold and diamonds within the next 10 years and that the government plans on emphasizing the exploration of diamond and gold in the nation’s five gold and diamond states.

While this does not affect the price of gold today it is a significant piece of news that bears watching for the long-term.

Sit Tight With Gold and Silver - We Have a Major Move Coming Our Way

James Turk of goldmoney.com, compares the current time to 1974, when we had the first big move in the gold price from $35 to over $100 an ounce. A tripling in the gold price in a couple of years time, driven by problems in the banking system and commercial paper market.

James Turk's advice is to "Sit tight with your gold and silver. We have a major move coming our way."

Listen to the full interview at kereport.com here:

http://www.kereport.com/DailyRadio/Daily091707.mp3

Gold Price Bottom on 24th of May

The GOLDPRICE.ORG Gold Price Sentiment Indicator is based on a number of variables related to website traffic on goldprice.org and other popular gold and silver websites around the world.

The Sentiment Indicator has spiked at almost every major top and bottom in the gold price during the past year. Our last update on the 6th of March suggested a bottom in gold had occurred on the 5th of March, this has since turned out to be spot on.

GOLDPRICE.ORG Sentiment Indicator Suggests the bottom may be in for the gold price and that now is a good time to buy gold.

On Thursday the 24th of May 2007 the GOLDPRICE.ORG Gold Price Sentiment Indicator had the largest spike since the previous bottom in the gold price on the 5th of March. This spike suggests a bottom occurred when the gold price bottomed on Thursday the 24th of May at $651.50 per ounce.

Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.

GOLDPRICE.ORG highly recommends GoldMoney as a safe, convenient and cost effective way to buy 100% pure gold and silver bullion online, stored in a secure vault.

Set up a free GoldMoney account to buy gold and silver in minutes!

Gold Price Bottom on the 5th of March 2007

The GOLDPRICE.ORG Gold Price Sentiment Indicator is based on a number of variables related to website traffic on goldprice.org and other popular gold and silver websites around the world.

The Sentiment Indicator has spiked at almost every major top and bottom in the gold price during the past year. Recently the Sentiment Indicator picked the last bottom in the gold price perfectly on the 5th of January at $601.

The last spike was the biggest in the history of the Sentiment Indicator and occurred on the 27th of February the day the gold price hit a high of $668.50 before this last correction started.

GOLDPRICE.ORG Sentiment Indicator Suggests the bottom may be in for the gold price and that now is a good time to buy gold.

On Monday the 5th of March 2007 the GOLDPRICE.ORG Gold Price Sentiment Indicator spiked which suggested a bottom occurred when the gold price bottomed on Monday the 5th of March at just over $632 per ounce.

Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.

GOLDPRICE.ORG highly recommends GoldMoney as a safe, convenient and cost effective way to buy 100% pure gold and silver bullion online, stored in a secure vault.

Set up a free GoldMoney account to buy gold and silver in minutes!

Gold Price Bottom on the 5th of January 2007

The GOLDPRICE.ORG Gold Price Sentiment Indicator is based on a number of variables related to website traffic on goldprice.org and other popular gold and silver websites around the world.

The Sentiment Indicator has spiked at almost every major top and bottom in the gold price during the past year. The last spike occurred the day before this most recent correction in the gold price on January 2nd.

GOLDPRICE.ORG Sentiment Indicator Suggests the bottom may be in for the gold price and that now is a good time to buy gold.

On Friday the 5th of January 2007 the GOLDPRICE.ORG Gold Price Sentiment Indicator spiked which suggested an intermediate bottom occurred when the gold price bottomed on Friday the 5th of December at just over $601 per ounce.

Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low, like occurred in October 2006 after the September 2006 low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.

GOLDPRICE.ORG highly recommends GoldMoney as an excellent way to buy 100% pure gold and silver bullion online, stored in a secure vault.

Set up a free GoldMoney account to buy gold and silver in minutes!