Tuesday, August 2, 2011

Soros is Wrong - The Gold is going to $2000/oz

Michael Lewis of Deutsche Bank : Gold price seem to go up when the dollar is falling it goes up when the dollar is rising , people buy it on inflation protection and they buy on deflation protection it is almost in any economical environement it seems to go up , the environment for us is negative the real interest rates are weak , all of this is very favorable to Gold and think we are still going to go up I think the bubble number is beyond $2000/oz so we do have another 20 to 30 percent to go

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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