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Analyst: Dollar May Sink, So Look to $1,500 Gold
CNBC
Wednesday, October 1, 2008
Aaron Smith, managing director at Superfund Financial, sees gold as a good bet as he believes it will rise to $1000 an ounce by year-end, and $1500 in two to three years’ time.
“We think the prognosis is quite bearish for stocks and actually if you are buying stocks long-only at this point it’s in my view sort of a sophisticated form of gambling,” Smith told CNBC. “But there’s no reason to be too too nervous. Investors could take advantage of cheap prices in commodity markets and benefit substantially from that in the next two to three years.”
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“If you have to buy stocks it’s better to have commodity stocks than financial stocks. But we believe we’re shifting to an era of real assets where real assets will be valued more than paper assets like stocks and bonds. So we want to have exposure to the real underlying commodity. The best one that investors can buy in this kind of market environment today is gold.”
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10 Responses to “Analyst: Dollar May Sink, So Look to $1,500 Gold”
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October 1st, 2008 at 11:21 am
Agreed, gold and silver. Dollar sinking like a rock!
October 1st, 2008 at 11:45 am
not while Bernanke can keep adding ,000 on the computer will gold hit $1,500/o and silver $100/o. Just look at the silver market and how manipulated it is.
October 1st, 2008 at 1:35 pm
http://www.youtube.com/watch?v=uw5dP5gy2Vs
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
–Cornbread Mafia
October 1st, 2008 at 3:28 pm
to many little guys own a lot of silver, they have to control the price of it. if silver appreciated, a lot of liitle guys would make a lot of money.
October 1st, 2008 at 4:15 pm
http://ca.youtube.com/watch?v=3rrWRNJ2lOs
October 1st, 2008 at 4:23 pm
silver has been kicked in the hindend for months! I was paying $23 an oz now its what – $12? How is it that it is to jump back? I think they are controling that and wont let it be worth it. It should be far over what it is now – but they are controlling it and keeping it down. Long as we got a Fed Reserve and Zionist bankster rule the world, I think we wont see it coming back up for a long time
October 1st, 2008 at 6:03 pm
It will help when it’s discovered that the gold reserves have been looted as well.
October 1st, 2008 at 6:07 pm
will silver ever reach its true value as gold is ?????????? why not ????????????
http://www.youtube.com/watch?v=uCF0FBdcicE
October 1st, 2008 at 6:20 pm
Has anyone read 1492? The author claims a treasure city filled with silver was found and clues the location to much more gold.
This is total speculation but could flooding the market with gold lower its value?
I mean, what they say about gold is “it can not go down!” isn’t that what was said about everything else, just before it falls severely?
October 1st, 2008 at 8:36 pm
In other news, we officially passed the $10 Trillion mark on the national debt clock today.
I didn’t hear anything about it in the news – did you?
http://www.brillig.com/debt_clock/
I keep a VERY close eye on the debt clock and I’ve NEVER seen it climb as fast as it has in the past two weeks DESPITE the bailout bill not (yet) passing.
http://digg.com/business_finan.....bt_Counter