How To Calculate The High For Gold
August 9th 2008 22:46
Have you noticed what's happened to the price of Gold (POG) lately? POG was $1033 during the third week of March and closed yesterday at $855.35. Some of the gold bugs are a little shell-shocked. Many anti-gold commentators are gloating. For the record, I've said, IMO, the POG would see $5000 an ounce!
Here's a little quiz, HOW TO CALCULATE YOUR OWN
GOLD PRICE PROJECTION courtesy of Jeff Clark Editor, BIG GOLD from Casey Research
Recall the buzz at the dot.com peak, and the buzz at the real estate peak? Are we anywhere close. I scored a 5! What was your score?
Here's a little quiz, HOW TO CALCULATE YOUR OWN
GOLD PRICE PROJECTION courtesy of Jeff Clark Editor, BIG GOLD from Casey Research
To get your personal gold score, take this 2-minute quiz about what you read and what you hear from the people you know. Here’s the key to score each answer you give:
* If an answer is zero: Score 1 point
* If an answer is between 1% and 10%: Score no points
* If an answer is above 10%: Take away one point
Personal Gold Score Quiz:
1. Of all your family members, what percentage have told you they own gold in any form?
Nobody: Score 1.
Some but not more than 10%: Score 0.
More than 10%: Score -1.
2. Of all your friends, how many have told you they’ve purchased gold or gold stocks? Score 1, 0 or -1.
3. Of all your co-workers, how many have discussed anything positive related to gold? Score 1, 0 or -1.
4. Of the neighbors you talk with regularly, how many have initiated conversation about any topic centering on gold? Score 1, 0 or -1.
5. How many conversations have you had with any other party (at work, at a gym, on an airplane, after a religious service, etc.) who spoke positively about gold in any way? Score 1, 0 or -1.
6. Excluding any gold-related websites or publications you regularly read, what percentage of all the materials you read (magazines, newspapers, online articles, etc.) discuss gold in a positive way? Score 1, 0 or -1.
7. What percentage of the investment vehicles available through your company’s IRA, 401k or other retirement plan include something explicitly related to gold? Score 1, zero, or -1.
Add up your score, and then multiply it by gold’s current price (let’s use $900 per ounce). And there’s your personal forecast for gold’s price peak. Excluding my co-workers at Casey Research, my total was 5, which gives me a personal gold forecast of $4,500. So maybe, just maybe, I’ll be selling when gold hits $4,500.
* If an answer is zero: Score 1 point
* If an answer is between 1% and 10%: Score no points
* If an answer is above 10%: Take away one point
Personal Gold Score Quiz:
1. Of all your family members, what percentage have told you they own gold in any form?
Nobody: Score 1.
Some but not more than 10%: Score 0.
More than 10%: Score -1.
2. Of all your friends, how many have told you they’ve purchased gold or gold stocks? Score 1, 0 or -1.
3. Of all your co-workers, how many have discussed anything positive related to gold? Score 1, 0 or -1.
4. Of the neighbors you talk with regularly, how many have initiated conversation about any topic centering on gold? Score 1, 0 or -1.
5. How many conversations have you had with any other party (at work, at a gym, on an airplane, after a religious service, etc.) who spoke positively about gold in any way? Score 1, 0 or -1.
6. Excluding any gold-related websites or publications you regularly read, what percentage of all the materials you read (magazines, newspapers, online articles, etc.) discuss gold in a positive way? Score 1, 0 or -1.
7. What percentage of the investment vehicles available through your company’s IRA, 401k or other retirement plan include something explicitly related to gold? Score 1, zero, or -1.
Add up your score, and then multiply it by gold’s current price (let’s use $900 per ounce). And there’s your personal forecast for gold’s price peak. Excluding my co-workers at Casey Research, my total was 5, which gives me a personal gold forecast of $4,500. So maybe, just maybe, I’ll be selling when gold hits $4,500.
Recall the buzz at the dot.com peak, and the buzz at the real estate peak? Are we anywhere close. I scored a 5! What was your score?
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