Now that expectations for Gold at very significant prices are being offered by various rational sources, there is one thing you can be sure of. That one thing is $1650.
I am getting many emails asking how it is possible for the gold price to reach $1650 by early January.
I suspect these are far out in time, out of the money call option buyers that have done exactly what I have warned against. That is the using of options with an investment outlook.
Options are speculations that you never hold past the half way to expiry point, but instead switch to further out months if you believe in what you are doing.
Those that pre-offer gold cannot trade it at $1650 in January because of the short time versus the big moves. They clearly have never experienced the gold run in late 1979 and early 1980.
I will stand with what I have said for nearly 10 years. Gold will trade at $1650 on or before January 14th, 2011. That never made me want to buy expensive in time call options.
It has given me the courage to invest in gold without margin both in shares and bullion.
There is no doubt in my mind that $1650 will occur in early 2011. I have told you that Martin Armstrong , a master timer, feels that gold will trade higher and face a reaction in middle to late June of 2011.
The gold banks are throwing blocks to the price as we approach $1262. This is a major waste of time and money as gold is going to and through that price. The only argument is whether gold will hit $1650 in January 2011 or $3000-$5000 in June 2011.