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Will you buy gold based on Charles Nenner's latest prediction?
Nenner seems to have a pretty good track record for economic forecasting. His latest prediction (mad on an April 22, 2009 appearance on CNBC) was that gold prices will rally in the coming months. Do you trust this prediction? Will you act on it?
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I will not buy gold. I don't think anyone can accurately predict what is going to happen in the coming months and years as far as our economy goes. Look how long it took them to finally admit we were in a recession... I think that if everyone suddenly started buying gold and ignoring other things (stocks, bonds, etc) then that will ultimately hurt the economy. If everyone buys gold, it will eventually drive prices down and then the economy will collapse even further.
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No, and No! Its a gamble! If I say the AL will win the all-star game, and I've correctly picked the last 10 All-Star games, that doesn't mean I'm right! Theres a 50 percent chance I'm wrong!
Personally I think gold is at it's high point right now. If anything I think it will fall- or at least it might go up a little and then fall drastically. If you want to play the stock market, you should buy low, sell high- not the other way around- and gold is definitely high right now, though it might not be at the top.
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