Gold $1200 per ounce? In Our Sights!
November 25, 2009 by Martha Rooks
Gold closes the day going into Thanksgiving at just short of the next milepost above: $1192.40. Experts say we are at the start of what might be termed a “gold bull market” that can be expected to last several years. Here at applesofgold.com, we certainly expect it will hit the $1200 mark within the next several business days, just as the most important shopping period of the year begins.
Friday, November 27 is the day traditionally known to American retailers as “Black Friday;” the day that the shoppers put stores and businesses into the black for the year with heavy holiday shopping. Following that, of course, is “Cyber Monday”, the most-shopped-day internet retailers may see all year. If there is a “bull market” on gold, this is the time to buy. But much depends on what happens in other stores and businesses the day after Thanksgiving. What will be the mood this year?
Consumers are concerned, that is certain. The “recovery” that we’ve all hoped for is slow in coming; the jobs have not returned with the gross domestic product being up and the mood is somewhat dismal. Some experts believe that Americans have finally learnd their lesson and are busily trying to pay off debts, save money and lead less expensive lives. But I would submit a few small exceptions that may make recovery still probable.
American consumers are still struggling under their individual debt loads. Credit card debt was running an average of $8,000 per household. For much of the last decade, people took out mortgages they couldn’t afford. Savings accounts were a seemingly antiquated concept.
Now, however, this year draws to a close with people living with more of an eye to expenses, paying down their debts, dining and entertaining at home and trying to live within their means. We seem to have turned a corner. And we realize what is needed for recovery.
We are learning to become moderate spenders. We are going to have to spend a little to assist the American economy to ease into recovery, but we still need to avoid debt. Thanksgiving this year sees Americans more conscious and grateful for what we have; Christmas, while being a quieter, less expensive affair, will still be as bright with more emphasis on family and being together.
So the dollar continues to lurch higher and we are not out of the woods yet. It will almost certainly hit the $1200 mark within days. And very possibly go higher. We are struggling, but we will survive. There is another old stereotype that comes into play here.
In the decades past, families that struggled together were stronger and believed “knit together” of stronger stuff. Those are the stereotypes upon which America was built. The price of gold to those people was only of concern because they needed a few small tokens of true love and commitment.
Some experts predict gold will hit the $2000 mark. If it does, we’ll be talking here about what to do, when to buy, and when as well as where to sell, too. Much will depend on where you, our readers are in your own economic and life experiences.
Meantime, enjoy our coupon 10% off+free shipping “CyberMonday” coupon*, which is good until November 30. And don’t be at all surprised if the price of gold hasn’t gone up to $1200 per ounce by the time the coupon comes down.
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