Since when did anyone listen JPM about metals prices?
JPMorgan analyst Michael Jansen told a room packed to overflowing with more than 500 delegates -- from corporate chief executives to geologists to fund managers -- that he expects gold prices to average $1,465 an ounce this year.
His year-end target for gold is $1,500, he said, adding the gold production outlook was strong going forward.
"We think mine supply is easily on track to grow 3 to 4 percent year on year," he said."
His forecast is slightly more subdued other predictions, such as by Barclays Capital, which said in January it expects the metal to average $1,495 an ounce this year, and range as high as $1,620 an ounce.
GFMS said in a January quarterly forecast that gold may top $1,600 an ounce by the end of 2011.
Klapwijk said gold and other precious metals will also get some impetus as investors exit other traditional safe havens.
In 1980 silver hit roughly $50 an ounce. Move 30+ years and adjust for inflation it comes to roughly $131 an ounce. We have alot of ground to make up just to compensate for inflation. Some other things to consider, silver has been consolidating for 30 years and is just starting it's stage 2 phase. More positives, massive short position that is billions of ounces; some say more than 10 years of mining production. Additional demand from billions of new investors that do believe silver is money (India, China, and others)that are buying at an alarming rate. Mainstream media is starting to give silver its proper exposure and soon more US citizens will be looking to get a piece. Hedge funds, with billions to invest will be part of the momentum crowd chasing it up. Plus you have what is essentially financial warfare being waged by China and Russia to destry the US financial system.
ReplyDeleteThis is not even close to the same thing as 1980 when 2 brothers decided they needed to protect their wealth by investing in silver. Silver will go parabolic...intersting times. Sometimes it is good to step back and reflect on what we are excited about.
Please feel free to add your thoughts of additional drivers of silver as this is only a partial list to be sure.
Jack C.
Good list. Silver will move "exponentially" higher not parabolic.
ReplyDeletehahaha JPM analyst says, "Gold to $0, Copper to infinity. Trust me, I work for JP Morgan."
ReplyDelete...and the baby bear said "price is fiat".
ReplyDeleteMr. SGS: You should have a "bed-in" with Blythe until silver hits $40 tomorrow. :-)
ReplyDeletesilvers up like 2% already WTF
ReplyDeleteangina-balls: Don't you like 2%? Me neither. I won't be happy until it's 300% by next month.
ReplyDeleteInteresting alert on the thinkorswim platform. Clearly a conspiracy is at hand [/end_sarc]
ReplyDelete21:27:20 /YI and /YG (Mini metals) quotes are down. Orders and routing are fine. You can check the full contracts /GC and /SI for similar quotes or call the Trade Desk at 866-839-1100 ext 7
No conspiracy, same over here, its called "out of fucking control" too many orders coming in shit cant handle it...
ReplyDeleteOne thing I learned from Mr. SGS is how to "bark it out" and just let it hang out once in a while. I enjoyed your blog dude! I hope everyone does well in this silver and gold. I really think this is going to go to $65 and beyond very soon.
ReplyDeleteRedTail -- omg is there a way to turn off the notifications on thinkorswim? SO fucking annoying!
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ReplyDeleteSorry: Can't link it for some reason. Weird! Try www.oilbull.com also. They have those UK chart links there but they are hiccuping a bit.
ReplyDeleteI'm buying on the way up here. I can't believe a monster box is just about $20,000US now.
I like 2% but I'm greedy I guess...I'm not happy with my position just yet. I hope Blythe sells her dildo I need lower prices for a little bit longer!
ReplyDeleteflaunt - not that I know of. judging by its position and perceived importance I doubt it. You're right though, it is annoying especially during the day with the alerts about whichever loser will be on whatever chat show after market close to talk about how to ride NFLX to $1,000. Again, another alert (DING!)
ReplyDelete21:27:20 /YI and /YG (Mini metals) quotes are down. Orders and routing are fine. You can check the full contracts /GC and /SI for similar quotes or call the Trade Desk at 866-839-1100 ext 7
After this is all over, I'm taking some of my profits and hitting up a donkey show in Tiajuna. That's the only job Blythe is going to qualify for after SHTF and JPM is bankrupt because of her. I really want to be there when she starts her new career in interspecies erotica.
ReplyDelete