Asset Manager Says Gold to Top $6000, Silver to $600

Anyone else think gold will get to $6000 an ounce?  If not, how high (or low) will it go?

Comments below.

Gold prices may reach $6,200 per ounce in a bull run which will “end all major bull markets,” Urs Gmuer, asset manager at Dolefin, a Swiss investment advice firm, told CNBC.

Gmuer’s prediction is based on analysis of the last major gold boom of the 1970s, during which gold prices rose from $35 per ounce to $850 per ounce. Gmuer said that in the current bull run, prices would be pushed upwards by a protracted period of global economic difficulty — potentially lasting years — during which investors would continue to search for so-called safe havens.

“Gold prices have risen over the last few years, as the macroeconomic picture has become worse. The deterioration of the fundamental situation has now gone even further.  “Purchases by investors of gold will be based on fears of systemic risk or banking crashes,” Gmuer said.

Read more on this story at:Precious Metals: Gold May Top $6000, Silver $600: Asset Manager - CNBC

Swiss Franc Continues to Soar, US Dollar Continues to Dive

Got any of your money in Swiss Francs?

The Swiss franc was the clear gainer in a choppy European session Friday as fresh worries about Greece's access to bailout funds and caution ahead of key U.S. jobs data boosted demand for traditional safe-haven currencies.

The steady drip of negative euro-zone news continued Friday as talks between Greece and a visiting troika of international creditors were suspended amid a dispute over the country's ability to meet its deficit targets.

That caused nervous traders to pile into the safe-haven Swiss franc, which surged 2% against both the euro and the dollar to trade at its strongest levels since Aug. 12. The euro fell to as low as CHF1.1060 against the franc, while the dollar sank to CHF0.7760.

WORLD FOREX: Swiss Franc Soars As Caution Prevails - WSJ.com

Video: US Currency Collapse, Role of Gov't and Fed Printing

From the YouTube description:

The federal budget is paid for by tax dollars (2/3) and everything else (1/3). But taxes this year will account for much less. A portion is paid for by money outside of taxes i.e. Treasury bonds, which contributes to the National debt. The Federal Reserve's activities are not part of the national debt [!] The Federal Reserve is not officially a part of the government. Theoretically the reason for this is to make sure government cannot print money directly to pay its own bills. The Fed is supposed to act independently and not print money unless it is in the interest of the economy. In spite of this the Federal Reserve tends to print all the money the government asks for regardless of the effect it may have on the economy [Amazing]

How to Deflate a Gold Bubble

This columnist adds that a gold bubble "might not even exist."

Isn't that the first sign of a true economic bubble: denial?

Gold is caught in a frenzy.

The price of gold reached a record high of $1,917.90 an ounce last week, not adjusted for inflation, and then promptly plummeted by about $120 an ounce. The volatile trading is again spurring claims that gold is in a bubble, one that will pop badly.

As with past booms in housing prices and Internet stocks, the four-year surge in gold prices raises the same fundamental questions for market regulators. How should they react? Should they react at all? How do they even know if a bubble exists?

How to Deflate a Gold Bubble (That Might Not Even Exist) - NYTimes.com

Signs the Financial World is About to Push the Big Red Panic Button

Feeling better now that the stock market finished up for a few sessions in a row to end the summer? Not so fast.

Most of the worst financial panics in history have happened in the fall. Just recall what happened in 1929, 1987 and 2008. Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button. Wave after wave of bad economic news has come out of the United States recently, and Europe is embroiled in an absolutely unprecedented debt crisis. At this point there is a very real possibility that the euro may not even survive. So what is causing all of this?

The Economic Collapse

The Stock Market Crash of 2011?

How close are we to a stock market crash like the one in 1929?

How far does the stock market have to go down before we officially call it a crash? The Dow is now down more than 2,000 points in just the last 14 trading days. So can we now call this "The Stock Market Crash of 2011"? Today the Dow was down 519 points. Yesterday, an announcement by the Federal Reserve indicating that the Fed would keep interest rates near zero until mid-2013 helped the Dow surge more than 400 points, but all of those gains were wiped out today.

The Stock Market Crash Of 2011?