gold to $650, silver to $9.80

[Slimprofits]

Re: gold to $650, silver to $9.80

FYI,

Robin Griffiths, Technical Strategist, Cazenove Capital Management:

- gold bottom is $750
- if you want to buy more, do it ASAP, too tough to time the bottom perfectly (last night at 10:40 PST on CNBC)

http://www.cnbc.com/id/15840232?video=805901852

I can't get the thing to play at this moment, so not sure if this (below) is a reference to that apperance or one made earlier in the week on CNBC, but no earlier than that for sure.

"Robin Griffiths, technical strategist from Cazenove Capital told CNBC this week he expects the normal downtrend associated with a bear trend will resume in September or October as people return from the summer vacation season. He expects another big down leg in that period."

source

Who?

Robin Griffiths joined Phillips & Drew in 1966, having taken a degree in Economics at Nottingham University. He went on to be a partner at WI Carr, the first British stock broker to have offices in Hong Kong and Tokyo. Part of this firm was acquired by Grieveson Grant, with whom Robin enjoyed a stay in Japan. In 1986 Robin joined James Capel, which was already owned by HSBC.

Having left HSBC Investment Bank in 2002, Robin then joined Rathbones as Head of Global Investment Strategy, where he stayed until 2008. He is currently the Technical Strategist for Cazenove Capital and manages the Worldwide Absolute Return hedge fund.

Robin has been a regular on CNN, CNBC, Reuters and Bloomberg TV. He is a committee member and former chairman of the international Federation of Technical Analysts, and former chairman, now fellow, of the British Society of Technical Analysts.

source

Griffiths, Cazenove CEO Andrew Ross told Financial News “is a legend in the industry."

[phirang]

Re: gold to $650, silver to $9.80

Most of these gold clowns have no understanding at all of the FX, BoP, and central banking that drive the gold price.

If you don't understand FX at least a bit, you should not be in gold, period.

[metalman]

Re: gold to $650, silver to $9.80

Got my new advisory's call half an hour ago. Gold "likely" to go to $650, silver to $9.80. Coming up soon. Hope he's wrong but that's what I got served up to me tonight. Ugh.

how much you spending our your gold guru, luke? did he call you 8/13 when gold was $844 and let you know to expect the hair raising price crash to stop at $780? not a popular call at the time.

akrowne Senior iTuliper

Join Date: Jul 2006 Posts: 160

Re: People are sentimental, markets are not

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If gold gets to $780, that will be something else... because $780 is just about the marginal cost of production at this point. Spot silver is arguably under its marginal cost of production (in the $17s).

I am buying!

still holding.



seriously, what was he saying then? sometimes these guys come out with a lower number later just to sound conservative but they don't really know what they're talking about.

[Jim Nickerson]

Re: gold to $650, silver to $9.80

Got my new advisory's call half an hour ago. Gold "likely" to go to $650, silver to $9.80. Coming up soon. Hope he's wrong but that's what I got served up to me tonight. Ugh.

BY WHEN ?

Edit: Luke, you continue to strike me as one of the strangest dudes who contributes here. What you posted is no rumor, it is the opinion of someone, assuming you are a truth-teller most of the time. However, as you have chosen to "share" your information with the community makes it useless.

David Bensimon, an Elliot wave counter and Fibonaccist (I hope that is a word) suggested in July that gold would decrease to 732 by April or May of next year, I forget which. He also suggested it would bounce around at 850 and 790 before its projected low. He seems wrong on the 850 resistance level in that gold blew right threw that. Whether anyone wishes to make use of this information is up to them, but the projection can be documented.

Got my new advisory's call half an hour ago. Gold "likely" to go to $650, silver to $9.80. Coming up soon. Hope he's wrong but that's what I got served up to me tonight. Ugh.