Citigroup says gold could rise above $2,000 - PeachParts Mercedes-Benz Forum

Dubyagee · #1 12-03-2008, 08:07 PM

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3526645/Citigroup-says-gold-could-rise-above-2000-next-year-as-world-unravels.html

Hatterasguy · #2 12-03-2008, 09:54 PM

Peter Schiff has been saying it as well.

Inflation is going to hit hard pretty soon, the US dollar especialy isn't going to be worth the paper its printed on. The government is burning out the printing presses running them off, and jacking up the Chinese Visa.

732002 · #3 12-04-2008, 09:54 AM

Citigroup has been wrong in the not so distant past.

Sure there is a chance of hyperinflation but gold would
not be the only commodity that goes up with a falling dollar.
$200 oil, even house prices....

Mistress · #4 12-04-2008, 10:42 AM

Isn't Citicorp on the list for a federal handout?

Dee8go · #5 12-04-2008, 10:45 AM

I think they already got their Christmas present.

Dee8go · #6 12-04-2008, 10:46 AM

Shucks, at this rate when you buy your wife/girlfriend a diamond ring, the setting will cost more that the diamonds do.

Fulcrum525 · #7 12-04-2008, 11:22 AM

Quote:

Originally Posted by Dee8go

Shucks, at this rate when you buy your wife/girlfriend a diamond ring, the setting will cost more that the diamonds do.

I'm sure De Beer's will have something to say about that. Today, $5,000 for the gold, $8,000 for the diamond tomorow, $10,000 for the gold, $15,000 for the same diamond.....

LUVMBDiesels · #8 12-04-2008, 12:13 PM

Citi also predicted $200/bbl oil by the end of the year. Think about it, whatever they are 'predicting' will go up is what they are holding a ton of and are trying to get the prices to go up so they can maximize their profit.

Next thing they will say is 'Securitized Mortgages will go up 1000% in the next three days'

aklim · #9 12-04-2008, 12:40 PM

Maybe Citibank needs to hoard gold now and sell it later. That might get them out of their current economic situation, right? Then they should be flush with cash.

aklim · #10 12-04-2008, 12:42 PM

Quote:

Originally Posted by LUVMBDiesels

Citi also predicted $200/bbl oil by the end of the year. Think about it, whatever they are 'predicting' will go up is what they are holding a ton of and are trying to get the prices to go up so they can maximize their profit.

Next thing they will say is 'Securitized Mortgages will go up 1000% in the next three days'

27 more days. Best buy now while it is cheap in case it goes up later.

link · #11 12-04-2008, 12:45 PM

Quote:

Originally Posted by Dubyagee

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3526645/Citigroup-says-gold-could-rise-above-2000-next-year-as-world-unravels.html

…this message brought to you by the dept of acquisitions, who recently bought a bunch of gold and aren’t happy with the rate of increase, so they are hoping to start a buying frenzy

LUVMBDiesels · #12 12-04-2008, 01:34 PM

Quote:

Originally Posted by link

…this message brought to you by the dept of acquisitions, who recently bought a bunch of gold and aren’t happy with the rate of increase, so they are hoping to start a buying frenzy

Exactly!

Hatterasguy · #13 12-04-2008, 05:08 PM

Well I think we will see some inflation for a bit, and it will be high. But I'm thinking 10%-15%. We might see a bit more than we saw under Carter.