FOUR guys write $50,000 + gold coming soon!

[DoChenRollingBearing]

...

Four prominent bloggers (who know a lot more than I do) now write that gold will hit $50,000 or higher. Their logic varies somewhat, but the whole meme of very high prices of gold is gaining traction.

I also do some "predigestion" of "Uber-Bear" Jim Willie, whatever you think of him, he is without doubt one of the most fun guys to read on the Internet.

"Gold, Fishez! -- Is a Reset Coming Soon?"

http://tinyurl.com/kf33xp6

 

[Potemkin]

I believe and would love to see gold soar and some of those bloggers out there are really well-informed.

I read Zerohedge, but I focus on the big experts: Schiff, Faber, Rickards, Rogers, Maloney, Kiyosaki etc. But Jim Willie isn't at all an expert, but rather a home-blogger type who repeats himself over and over again...

Gold could easily surpass 5,000 $, in my opinion, but 50 k would be nice!

 

[mike]

It all depends on what $50K gold really means. If it means a gallon of milk costs $3000, I won't be jumping for joy. If the price of everything else stays the same or goes down, however, you're all invited to a party at my house Seems like neither scenario is likely though.

 

[Penn]

It is also scary. For the most part I forget I own my stack.

 

[mmerlinn]

I have no doubt that $50,000 gold will happen sooner or later. However, until the current downtrend reverses, there is no way in hell we will see it happen. So, I guess it is a question of how one defines "soon."

Based on how things usually pan out, the first thing needed is a reversal of the current downtrend, which will probably happen late this year. Next, prices must SIGNIFICANTLY go through and stay above $1500 (gold) and $26 (silver), which will not happen until next year at the earliest. Finally, prices must exceed, and stay above current record highs, which I doubt will happen next year at all, and maybe not even the year after.

Once all of that happens, then, and only then, we MAY see $50,000 gold SOON.