Gold: Where to from here?

THE CONFERENCE CALLER: There was much consternation and many furrowed brows at the Gold Investment Symposium as delegates ruminated over the upcoming fortunes of the most precious of precious metals.

The Roadhouse managed to get a quick summary from a few punters to get an idea of what we might be expecting to see.

Jordan Eliseo chief economist ABC Bullion

“There is a range of views, and I think there is a good chance we could see one last flush out, probably by Christmas time, which could see prices down around the $1100 range.

“I think that could be a very short term move, if it was to drop that low.

“If we see a quick snap back and rally from there we could possibly see prices up around $1500 within 12 months, which would be a good result from where we are now.

“I think every investor, at the moment, is pretty despondent about gold in the past 12 months, so we will be pretty happy to see the end of this correction and prices to start to move back a bit.”

Philip Barton president The Gold Standard Institute

“We use gold as the measure of paper, we don’t use paper as the measure of gold.

“But if you want me to say how far the value of paper money will fall over the next 12 months, I would say that, as a complete guess, I’d say that one ounce of gold will be buying US$2000 in 12 months’ time.

“But that’s a completed guess.”

Kerry Stevenson CEO Symposium

“I don’t think anybody knows where gold is going to go in the next six to 12 months.

“First of all, the world is so topsy-turvy and volatile with different forces – frankly 101 Economics doesn’t work anymore.

“If someone turns around and says it is going to be at $2500 – maybe it will – my own personal opinion – and this is coming from nowhere else than reading a lot and trying to understand it – I think it is actually going to go down, possibly to as low as $900.

“Then I think it is going to have a big uptick, but again- who knows where it is going to go?