Comments on: Gold Prices Retreat $1, Silver Advances 33.2 Cents https://www.coinnews.net/2011/09/21/gold-prices-retreat-1-silver-advances-33-2-cents/ CoinNews delivers the latest World and US coin news Thu, 06 Oct 2011 00:40:33 +0000 hourly 1 https://wordpress.org/?v=7.0 By: chris stewart https://www.coinnews.net/2011/09/21/gold-prices-retreat-1-silver-advances-33-2-cents/#comment-38435 Thu, 06 Oct 2011 00:40:33 +0000 http://www.coinnews.net/?p=22339#comment-38435 One reason, perhaps, that Eibl’s forecast dropped off the headlines (actually, it did not) is that his forecasting history was checked and found wanting:
Contrarian Investors’ Journal, Dec 2006 (http://cij.inspiriting.com/?tag=christoph-eibl# ) , highlights another Bloomberg mention of Eibl that month. It reads:
“Further down the Bloomberg article, we read that “Some analysts are sceptical gold can gain for a seventh straight year, a feat unmatched in the metal’s trading history. There will be ‘new interest initially,’ said Christoph Eibl, co-founder of Tiberius Asset Management AG in Zug, Switzerland, who predicts gold will average $580 in 2007. ‘Then commodities will burst.’”

According to this Kitco chart, http://www.kitco.com/charts/livegold.html gold has never even dipped below $600 since Eibl uttered that prophecy and is still close to three times is “burst” claim. Eibl, now in Sep 2011, is talking “long-term” strategy – and he could be right, for those folk still around.

]]>