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Gold Could Drop to $500



May 16, 2013 – Comments (5) | RELATED TICKERS: GLD , AUY , SLV

'Gold is Toast!' Why It Could Drop to $500: Pro -

I was well ahead of Mr. Novogratz in making the same observation two-and-a-half years ago.


5 Comments – Post Your Own

#1) On May 16, 2013 at 11:16 AM, L0RDZ (90.15) wrote:

Gold  around  500  an  ounce would  really  tick off  a  lot  of people  ~  all  the  way  from the  uber  super  rich   to   skid row types.

Anyone  remember a twillight  zone episode  where  these  criminals steal  bars  of  gold  and  use  technological  sleep chambers  to  hybernate  for   several  hundreds  of  years  so  as  to  escape  prosecution  for  the  theft.    Anyways  a  couple of  the criminals  chambers  malfunction and  they die  ~  for  the  rest  they end up dying off or  something  until  it  ends up  with  2  of  them  and   they  are out  in  the  desert  hauling   heavy  gold  brinks   and  they are playing  games of  trading  gold  for  water (between themselves)   and  eventually  it  ends up   with  one  guy  dying  with a  bunch  of  heavy azz gold bricks and the other one  gets  discovered  only  too late and  dies  clutching  his gold   ~  but  get  this  the moral of  the story is  that  in  the future  gold  is  worthless ~ 

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#2) On May 16, 2013 at 12:34 PM, TMFAleph1 (92.50) wrote:

That Twilight Zone episode offers an excellent cautionary tale! Goldbugs are going to get carried out of this bear market clutching their gold nuggets in a death grip.

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#3) On May 16, 2013 at 1:26 PM, L0RDZ (90.15) wrote:

Gosh I  just  love  google  and  their purchase  of  you tube... you can find anything...

heres  that episode... courtesy  of  them

It was called the RIp Van  Winkle Caper...


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#4) On May 16, 2013 at 4:25 PM, awallejr (39.63) wrote:

I remember watching CNBC back in early 2009 where people were making predictions where the DOW was heading to.  One "pundit" with a straight face said DOW 2,000.  I would love gold to fall to $500 an ounce but emerging markets won't let that happen nor will the miners bother mining it.

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#5) On May 16, 2013 at 8:57 PM, portefeuille (98.85) wrote:

#3 nice video :)

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