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gold!!!!

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Super Contributor
how long can the upward movement of gold keep rising??? or can we expect price falls this week?? ... anyone???
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9 REPLIES 9
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Super Contributor
i think we will see USD 1000 very soon and possibly stay there for some time, the declining USD will drive it up and recession fears can only fuel the drive.
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Super Contributor
thanks werner
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Not applicable
If we could just give the mines power we could make the Rand recover to 7.25 where it should be to the $. Perhaps even below 7 by now with the diving $. I can't believe that we are in this situation. Every currency is appreciating against the $ except us. And the only reason is because of lack of power. The quickest way to solve the problem is with solar and wind power, and maybe even wave power. And please don't tell me it's expensive. Driving around in your R8000 a month Merc is much much much more expensive than powering your house for R3000 a month and having a stable economy and Rand $ Exchange Rate. You guys with clout, tell the government that they need to buy surplus power from private providers if we can supply the grid. We also need 100% tax deductions for fitting renewable power. This way we probably won't need any new power stations at all, except for the mines who will develop their own geo-thermal and methane power stations - and the farms that will develop ways to covert cow dung into gas for their own and others use. I've also heard that if Cape Town used waste products it would have enough energy for its own needs - like in New York which uses waste in a power station.
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Contributor
Spot on, Huaron. Isn't it ironic that SA shoots itself in the foot, hand, ear, bottom and brains just when macro conditions are lined up in our favour? I'm really narked because I now have mostly gold mining stocks in my portfolio.
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Valued Contributor
spike, gold stocks were going backwards long before eskom came to the party
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Frequent Contributor
Yes Simon, but if we disregard the powerfailure and take the $ gold price alone the shares would be much higher today.
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Frequent Contributor
USD 2,000
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Contributor
Should'nt you wooried bout making money now instead of waiting 10 long months before it reaches 1000$
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Frequent Contributor
Take a look at the price of gold in the US, down big time! Dow also slumping again. What is in store for AGL tomorrow?
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