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chickenminer
22:49:57 Thu
Jan 22 2009

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My man Melman ! .... update

Well,
I always enjoy reading Leonard Melman's piece in ICMJ. Even if taken with a heaping grain of salt.
No exception this time. My man is out on the limb again with a prediction of gold at $2,200 an oz by the end of 2009.

Best, Dick

I wanted to bump this thread from last January back up.
Leonard's prediction is falling short (so far), but with gold at $1,200 now, it will be very interesting to see how it settles out before the new year.

May we see $1,400 ??

[1 edits; Last edit by chickenminer at 06:28:06 Thu Dec 3 2009]



---
Dick Hammond - Chicken, Alaska
Chicken / Stonehouse Creek Mining
Chickenminer.com
 
 
Reno_Chris
23:09:00 Thu
Jan 22 2009

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Re: My man Melman !

Well, with all due respect to Leonard, I think that one is way out there. I am plenty optimistic for gold in the longer run, but to see that happen in 2009, I think he is looking for the failure of civilization as we know it.

Any of you guys ever watch the old "Mad Max" movies?

Ammo might be worth more than gold!

Chris



---
Stories and Information on Prospecting For Gold:
Prospecting Information Encyclopedia
Turquoise and Gemstone Jewelry:
http://nevada-outback-gems.com

 
 
Geo_Jim
07:07:40 Fri
Jan 23 2009

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Re: My man Melman !

I have not read the latest issue of the ICMJ yet, but if Melman is right about $2,200 for gold, it portends a very scary year. I would rather see $1200 gold by years end. I want a gradual increase in the price because it might be more stable than a dramatic change. of course what i want and what I get are two very different things. Ha!
:confused:
Geo Jim

  
chickengold
20:56:39 Fri
Jan 23 2009

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Re: My man Melman !

Dick-

He might be out on a limb, but it is a limb that many will be sharing soon! The rise to 1000/oz was note worthy, but not very widely participated in. There were too many other investments making new highs. Not so now. When gold takes off (up $40 today), a lot of parked dollars will take notice. Gold will lead the parade soon and hopefully other commodities will follow.



---
Mike
Chicken Gold Camp
 
 
leonard
23:56:34 Fri
Jan 23 2009

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Re: My man Melman !

I had the pleasure of metting Leonard Melman, another Leonard is great as thats my name, and listening to one of his presentations at the Washington Prospecting Rally in 2005. He is a very interesting person to meet and a great speaker.
Leonard, the golden optimist.
kc0wox.com
[2 edits; Last edit by leonard at 23:57:58 Fri Jan 23 2009]

  
Geo_Jim
02:08:18 Sat
Jan 24 2009

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Re: My man Melman !

Melman just may know what he is talking about. Gold went up $40 today, January 23, 2009. It is now very close to $900 at $898 and some change.:smile:
Geo Jim

  
AKdredger
02:36:08 Sat
Jan 24 2009

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Re: My man Melman !

I would rather see gold stablize at 700-800 and my 401K gain back the 50% it lost, I have more there than in gold. But at least when I am now mining the gold I find will pay for more than P&J sandwiches unless the price of food goes up with gold. Hate to see everything else go up portionately.

  
Reno_Chris
01:08:22 Sun
Jan 25 2009

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Re: My man Melman !

I could easily see $1200 per ounce gold in 2009. Thats not a big strech.

However $2200 gold is equivalent to saying $12 per gallon gasoline - and I dont mean someplace in the Alaskan bush, I mean in all the big cities in the lower 48.

If that happens, we'll have 30+ percent unemployment, $15 a loaf for bread and Dow $4000. Today's economy would seem like the "good old days". I think gold will go up, but not nearly as much as Melman says.

Chris



---
Stories and Information on Prospecting For Gold:
Prospecting Information Encyclopedia
Turquoise and Gemstone Jewelry:
http://nevada-outback-gems.com

 
 
Steve_Herschbach
21:45:14 Thu
Dec 3 2009

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Re: My man Melman !

Yikes Chris,

Talk about a spot on prediction from January! So what do you predict for 2010?

  
griztrack
14:42:03 Fri
Dec 4 2009

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Re: My man Melman ! .... update

About a month ago Merril Lynch called gold to reach
$1500 in 18 months..looks it might be sooner

  
Geo_Jim
07:48:54 Mon
Dec 7 2009

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Re: My man Melman ! .... update

It looks like Leonard was off the mark for 2009, but if his $2200 prediction comes true by the end of 2010, that would be very nice without being too scary.
Geo Jim

  
Manicminer
20:13:55 Mon
Dec 7 2009

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Re: My man Melman ! .... update

I keep hearing it will hit the floor/crash in a month or two and then it will climb steadily all year to somewhere near the $2200 mark.

  
tvanwho
02:02:28 Tue
Dec 8 2009

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my 2 cent forecast

I am betting on gold at 1300+ in March 2010 and maybe 1650 in late Sept.
It really needs to correct down to $1000 1st in my opinion.
What's the best way to play it? I am looking at options on the GLD and SLV ETF's. They would look pretty reasonable for March /May at the $1300 level if gold tanks down to $1000 in the next few weeks. Not about to play futures, too risky. Buying gold coins is probably the safest but no leverage. I hear junior gold mining stocks do extremely well in gold bull markets vs gold itself, is that bs or not?

-Tom,ps, my 401 K is up 50 grand this year,(30%) and I never even put in any contributions for 2009? Dunno why the Dow is up so much with our dollar tanking? In past years, the market would have crashed with the dollar getting so weak....sometimes nothing makes sense in our world....

  
Zooka
05:34:07 Tue
Dec 8 2009

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Re: my 2 cent forecast

Juniors really underperformed the last big runup, are doing same this time. Barrick too. When this stuff happens, that is, the juniors are underperforming the gold etfs, I have learned that there are things going on that we are not reading about, and usually they are really bad for the small gold or mining stock investor. I am thinking there will be another big flush here soon, as the hedge funds scramble to not be the last man holding gold as its price collapses. Again... and then sometime afterwards, another huge, fast rise.
Wild craziness going on a year ago. Examples abound. Novagold, up 11x from last year. Still well under 1 1/2 years ago. Nevada Copper, flirting with a 20x boom. But others, good companies with good holes, only a 2 or 3x rise, or less, off of their lows, when gold has gone up 67%. No rhyme or reason.
What's that line in Star wars? "I gotta bad feeling about this..."

-Z

  
tvanwho
23:12:52 Tue
Dec 8 2009

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Nevada Copper looks interesting...maybe

Can't even get a real quote on Nova Gold tho, 00001 cent? I will have to check with my pendulum on Nevada Copper.It went from 17 cents to 3 bucks in 2009. 1 grand in that stock would have ballooned to 16 grand.Looks like it might go to 4 bucks in 2010.
Incidentally, I removed a piece of glued in black ribbed rubber matting in my highbanker. Under it was very fine sand, dunno how it got past my glue and silicone around the edges of the mat? I almost vacuumed it out with my shop vac, then decided to scoop it out with a butter knife.My friend ran the little bit of dirt in his Blue Bowl and it was loaded with fine gold and small flakes!! Sure looks pretty in my vial. This came from a spot I had map dowsed for 1/10 ounce per ton and we have been getting gold there every time we go, down to 3 feet deep so far in a gravel bar at the junction of 2 creeks in west central Indiana. I have to stare at the gold in that vial somedays to remind myself the map dowsing for gold sometimes does work and I have proof of it in my vial.
I see gold and silver plunged again today,-$35 on gold and -$1.05 on Silver.Getting closer to my $950-1000 target price for mid Jan -early Feb 2010.I'd buy silver around $12-13 then too.

-T

  
chickengold
04:19:09 Wed
Dec 9 2009

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Re: Nevada Copper looks interesting...maybe

Tom,
NG...$5.45 (-.33) AMEX

The dollar and the stock market have been in an inverse relationship during 2009, which is somewhat atypical but responding to the "carry trade" speculation brought on by low interest rates as Zooka mentioned elsewhere. For a look at a good graph and some further discussion, see A dash of Insight.

I too believe this correction will be short-lived, but possibly pretty dramatic. Today, the DJ Financials Index closed below their 100 dma. The broad market has not seen a good correction and will probably follow the financials. This, plus the tough talk out of the Fed, lingering Dubai news and Greece credit downgrading, may result in further upward movement in the US dollar as the "flight to safety" (oxymoron) trade comes back. It would seem that some of this has been contrived by the Fed and bankers to attempt to put the brakes on the inevitable collapse of the dollar. The timing of the Dubai news story is suspect (on Thanksgiving day when the markets were closed) and the Nov unemployment numbers seem contrived to benefit the Obamaconomy. Its all smoke and mirrors! Were the Nov unemployment numbers actually 16 higher than reported?? See
The Market Oracle.

Once the gold and stock market balloons deflate a bit and the fog induced from the Administration's lies clears, gold will trend higher and it would seem that a few good juniors would be a good place be postioned.

Just my 2cents,


[1 edits; Last edit by chickengold at 05:16:23 Wed Dec 9 2009]

  

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