Gold to reach new all time high of $2400/ounce

[First77]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

[First77]

Gold is hedge against inflation and store of value. Gold protects people's wealth during wars, natural disasters/calamities, economic and technology crashes/crisis.

Gold is the safest investment because Central banks/governments buy Gold. Gold has seen world war 2, many wars, economic booms and crashes, technology revolution and crashes, 9/11 terrorist attacks and much more over the past 100 years.

In FOREX there is USD/EURO/GBP/Gold/Silver/CYN so gold and silver are traded against major/top currencies of the world. Economics.

[algopro]

Highly doubt gold will increase by much, it has been replaced in the majority of all industrial applications and the only real use of it is for Jewelry. People used to buy gold as an inflation hedge, but otherwise it is like crypto - it only holds value if people believe in its value.

[FinalFury]

How much of this is due to inflation. So man all time high everywhere. NBA players making over $30 million a year, milk at the super market is at an all time high where I lived. I got it on sale yesterday for $6, and just so many examples.

So a million dollars cannot get you the same as it did 15 years. ago.

[The Sceptical Chymist]

Gold is hedge against inflation<snip>

I've read propaganda like this for years now.  Gold (and silver) has all these aeronautic and medical uses.  Metals have never had a better future.  They're set to explode IF ONLY [insert big "ifs" here].  And none of those arguments have pushed gold any higher than it was in 2011, and the market has been dead for metals since then. 

If you invested in gold before 2011 and didn't sell, you got screwed.  If you bought gold in 2011-2013, you got screwed.  There's no dividends, no price growth, and physical gold can't be sold as easily as stocks or crypto.  Your gold just sits there, maybe or maybe not hedging against whatever inflation we have. 

In the meantime, if you'd bought stocks or bitcoin in 2011, you'd have much more wealth in 2018.  I think there's a place for gold in your investment portfolio, but only if you have a lot of money to begin with and only if it's a very small amount.  I don't think gold is set to explode again anytime soon.

[First77]

Buying quietly, China raises gold reserves to 1,054 tonnes. China has $2 Trillion to $5 Trillion for Gold ??

Shanghai/Beijing: China disclosed on Friday that it had secretly raised its gold reserves by three-quarters since 2003, increasing its holdings to 1,054 tonnes and confirming years of speculation it had been buying.

The confirmation of its surreptitious stockpiling is likely to fuel market talk about Beijing’s ability to buy secretly and its ambitions for spending its nearly $2 trillion (around Rs100 trillion) pile of savings. And not just in gold: copper and other metals markets are booming thanks to China’s barely visible hand.

https://www.livemint.com/Money/

[jrrsparkles]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

It is not a wonder that gold is getting more value in the coming years because it has been in use for many centuries and also considered as most safest form of investment ever.But is there any connection between the price of bitcoin rise and the price of gold rise together?

[timerland]

I do think that gold is most likely undervalued right now.

There has been basically a half a decade gold bear market that has gone on, and i think that the end for this precious metals bear market is going to happen sooner or later. However, I don't really see gold reaching $2400 any time soon.

If you want a decentralized, independent store of value and hedge against inflation, you've already got bitcoin which is much more convenient and promising in my opinion. Gold is still going to be trusted by many due to its history. I don't think that it's really that good of an investment though, and it's probably better described as a safe haven.

[mikyadel]

Gold is hedge against inflation<snip>

I've read propaganda like this for years now.  Gold (and silver) has all these aeronautic and medical uses.  Metals have never had a better future.  They're set to explode IF ONLY [insert big "ifs" here].  And none of those arguments have pushed gold any higher than it was in 2011, and the market has been dead for metals since then. 

If you invested in gold before 2011 and didn't sell, you got screwed.  If you bought gold in 2011-2013, you got screwed.  There's no dividends, no price growth, and physical gold can't be sold as easily as stocks or crypto.  Your gold just sits there, maybe or maybe not hedging against whatever inflation we have. 

In the meantime, if you'd bought stocks or bitcoin in 2011, you'd have much more wealth in 2018.  I think there's a place for gold in your investment portfolio, but only if you have a lot of money to begin with and only if it's a very small amount.  I don't think gold is set to explode again anytime soon.

people who invest in gold like big billionaires and governments don't look for any sort of long or short term profits .it's just a safe sanctuary for their assets . Gold can also be a way to make money if you put in the right time, recently an Egyptian billionaire "Nageb sawerus" invested like half of his wealth in Gold !

[davis196]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

Your thread contains mostly rumors and predictions.Crude oil won`t reach $150/barrel soon.The trade war,started by Trump with China and the EU is not costing 1 trillion USD.It`s under 500 billion USD and I don`t think that is will influence the gold price that much.Gold price will reach a new ATH only if the federal reserve starts printing trillions of dollars.

[First77]

Your thread contains mostly rumors and predictions.Crude oil won`t reach $150/barrel soon.The trade war,started by Trump with China and the EU is not costing 1 trillion USD.It`s under 500 billion USD and I don`t think that is will influence the gold price that much.Gold price will reach a new ATH only if the federal reserve starts printing trillions of dollars.

you should be reading more at https://www.rt.com

[erundook]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

this is happening because all around the world money lose its weight and value, so we can anticipate all the goods and investing assets to become more expensive with time and eventually the transfer on new world economy system.

[hugeblack]

Gold is a haven that is gaining value as concerns spread globally. "Its value is opposite with the dollar."
Given the charged atmosphere in the world, I expect demand to rise again but not to record levels such as $ 2,400.
Commercial wars and Iranian oil supplies may reinforce these concerns but do not forget that there is reconciliation with Russia, North Korea, and Syria as it is easy to offset losses.
It is also easy to compensate Iran's oil losses from OPEC.

[Hydrogen]

Gold is hedge against inflation and store of value. Gold protects people's wealth during wars, natural disasters/calamities, economic and technology crashes/crisis.

Gold is the safest investment because Central banks/governments buy Gold. Gold has seen world war 2, many wars, economic booms and crashes, technology revolution and crashes, 9/11 terrorist attacks and much more over the past 100 years.

In FOREX there is USD/EURO/GBP/Gold/Silver/CYN so gold and silver are traded against major/top currencies of the world. Economics.

I think the price of gold will increase due to the high demand for it with many central banks seeking to obtain more of it & hoarding the reserves they already have. Most nations overprinting fiat could also contribute to a spike in precious metals.

Gold is @ a disadvantage to crypto currencies which are insulated from fiat hyperinflation and offer other advantages such as point and click shopping and transferral of funds which is much more userfriendly and possibly more secure against theft as well.

Gold also isn't a viable option for those living in "gun free zones". Keeping 20 pounds of gold in your basement and not having some means of defending it against home invasions or robberies--could make bitcoin and crypto the modern day equivalent of what gold used to be. Before there were new innovations which allowed for the inflation protection of gold but also being mated to the convenience and ease of use whch crypto currencies provide.

[Indamuck]

Bitcoin is much safer than storing gold because of encryption, passwords, multiple addresses.  Holding gold is much more of a security risk in my mind. 

I still think gold is a good investment because of the intrinsic value but I would only keep a small portion of my portfolio in gold.

[autotoss]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

In my country gold was never so expensive and it was never considered as a popular asset of investment source, so I cannot say that I have few grams of it as a saving but it's not that I'm investing in it.

[First77]

In my country gold was never so expensive and it was never considered as a popular asset of investment source, so I cannot say that I have few grams of it as a saving but it's not that I'm investing in it.

United States of America is the most advanced country in the world and USA has the largest Gold reserves [bars] in the world.

Russia and China are getting into Gold buying in a big way. That says it all.

[bobo012]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

Will that ship with tons of gold found near south korea affect the price of gold in the coming years?
I have read there is billions worth of gold found

[1Referee]

Will that ship with tons of gold found near south korea affect the price of gold in the coming years?
I have read there is billions worth of gold found

It's said to be worth around $130 billion but that's peanuts in the grand scheme of things. Gold is one of the most liquid assets in the world and for that reason these 'discoveries' won't even dent the price. Bitcoin in that regard has a lot more maturing it needs to go through. If you have $100 million worth of Bitcoin to unload, you can easily tank the price down with 25% and depending on the exchange, even more than that.

EOS for example raised around $4 billion in Ether with their ICO, which is pure madness. They have enough coins to absolutely tank Ether down to the bottom if they want to push it back in the market. This is a proper example of how one event can and probably will significantly affect the price of an illiquid asset.

[stompix]

Bitcoin $7,000. Dow Jones 26,000. That way new all time high price for Gold will be $2400/ounce.

Iran crude oil getting banned worldwide and Iran threatening to block major supply route through Gulf seas. Crude oil going back to $150/barrel.

Some $1 trillion trade/tariffs war started by Donald Trump with many countries.

Your thread contains mostly rumors and predictions.Crude oil won`t reach $150/barrel soon.

The thread is made by the biggest gold lover on this forum.

If oil goes back to 150$ per barrel and stays there nobody is going to care about gold as we're all going to get ****.

But that is not going to happen,  there is so much shale oil that can be mined at those prices, many will switch from oil to whatever source of energy they have at their disposal and the demand will go down driving also the price down.

Cars are getting more efficient, public transport also, in my town we have a tram line that travels like a dream, two of the roads to the city center are 50% down in congestion time, and so on.
Oil is not going to get back 150$....unless something totally unexpected happens, like a SAvs Iran war.