What Will Happen to the Price of Gold? (Gold Price Discussion)

[OROBTC]

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I started a thread recently on gold having a big decline (after a big price rise a few days before).  That thread was meant for short-term observations.

Perhaps the time has come to discuss gold prices in general.  

As some of you already know, I am a believer in  holding "physical gold", not "paper gold" (the GLD ETF for example).  But, it is paper gold that we see prices now.  Here is a 10 year chart on gold prices.  Gold in general has done very well over the past 10 yeras, even if it is way off its all-time highs.  Note very recent price spike of almost $200 / oz.





kitco.com is the place that the LCS's (Local Coin Shops) get their prices from, and use to calculate their price to you, however, I could not properly load their 10-Year chrt here.

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What will happen to the price of gold?  Well, that's what this thread is for...  Please discuss!

[1714897151]

1714897151

[OROBTC]

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30-Year chart of gold price.  Note long "Bear Market" after 1980 (until 2005 or so).  Note also that these are constant dollars, NOT inflation adjusted.  It is estimated that the gold price would have to rise to about $2200 per ounce to equal the 1980 high in real terms.





And a 30-Day chart, showing gold's big price move up, and the partial retracement down:

[rektDude]

The price of gold will be going up. There is less gold on the world then there used to be.
This is making gold even rarer, because of this the price will always be going up. 

[Ch3wbacca]

Let gold do what it has been doing for over several years since 2008; down.

[Amph]

i think it will remin there, between 1k and its last ath the first to 2k, it can go any higher the market cap is already huge, and more gold are added each day, remeber that the mining activity of gold is ongoing since hundred of year

[randy8777]

i am already happy when the gold price stays around its current price levels. it will make it a more than perfect store of wealth for the people that don't want to keep their money into fiat or bitcoin. it's a great alternative. the only downside when you buy physical gold is that you need a safe location to store everything.

[jtipt]

I think the price would remain where it it, with some minor ups and downs. It has been going down since few years but now it seems like it has become a little stable.

[OROBTC]

Let gold do what it has been doing for over several years since 2008; down.

Actually, the price of gold is well above 2008 and 2009 prices...  Yes, the gold price is well below its 2011/2012 highs.

And of course gold today (23 March) went down $27 or so.  But, the day-to-day movement are not what interests me, I am trying to look at longer time periods.

[markj113]

The global economy is screwed.

More and more people are beginning to wake up to the fact and now there is a large flow of cash in to gold for safety.

This will continue to drive gold price to all time highs, just wait until Amercia gets a taste of negative interest rates and see what happens

[Wapinter]

Let gold do what it has been doing for over several years since 2008; down.

Gold is still considered most precious metal by many socities specially it has religious and traditional values.This keeps its demand always high and prices can never go down beyond a certain level

[markj113]

Let gold do what it has been doing for over several years since 2008; down.

Gold 17% up year to date.



What has bitcoin done since the end of 2013?  down -

[RobinHoodster]

I think the price would remain where it it, with some minor ups and downs. It has been going down since few years but now it seems like it has become a little stable.

I thought that gold was only going up i price but it seems that that is not the case. But the price is dropping that low when it is dropping so it is going up in value every years or so.

[Kprawn]

I think the price would remain where it it, with some minor ups and downs. It has been going down since few years but now it seems like it has become a little stable.

I thought that gold was only going up i price but it seems that that is not the case. But the price is dropping that low when it is dropping so it is going up in value every years or so.

The paper gold price is being manipulated and you will not get a true value based on that. I am also a true believer in buying physical gold and feel quite confident that it's price will stay valuable even

when the paper price collapse. The only way in which the physical value of gold will be diminished is when the supply suddenly increase. { For example, when a massive gold deposit is found or if a

meteor with loads of gold hits the earth, which is highly unlikely.  http://www.nasa.gov/centers/ames/news/releases/2012/12-93AR.html

[OROBTC]

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Kprawn

Re "paper gold", yes, I agree.  At some point the price of paper gold (promises, futures, gold loans, derivatives, etc.) will fail, probably when there is serious demand by holders of paper actually wanting physical gold.  My understanding of the COMEX (CME) is that they can settle in cash, they do not have to deliver actual physical gold to settle contracts.

But at some point (IMO) there are a lot of people who will decide rather quickly that they want physical gold, the real thing.  That will be an awesome time, that is when we will likely see huge price increases ($100 + per day).

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Meteorites striking the earth have much higher amounts of IRIDIUM than is found in rocks in the Earth's crust.  Iridium is an interesting platinum-group metal, it is the second densest (stable) material in the universe.