Will people come back to gold

[fillippone]

I think there are a number of other base metals/products that one can invest in to store wealth

The problem is wealth density.

$40k gold is the size of a smart phone.
$40k copper is 6.7 tonnes

Seems legit. Another one is corrosion.
Do you really want to store your value in something that basically is goingto turn into rust just because exposed to air?

Sorry, I am new on this thread: are we brushing up WHY store of value is GOLD and not Copper or Silver? /sarcasm

[Davidbugs]

I think there are a number of other base metals/products that one can invest in to store wealth

The problem is wealth density.

$40k gold is the size of a smart phone.
$40k copper is 6.7 tonnes

Reassure me, you don't know anyone with 6.7 tons of copper in his house, do you? Even the Gypsys don't have.

[fillippone]

I think there are a number of other base metals/products that one can invest in to store wealth

The problem is wealth density.

$40k gold is the size of a smart phone.
$40k copper is 6.7 tonnes

Reassure me, you don't know anyone with 6.7 tons of copper in his house, do you? Even the Gypsys don't have.

That’s exactly why copper is not used as a store of value: storing big wealth with copper would be impracticable from a physical point of view. And if you think storing is a problem, try moving that wealth.
So wealth density is a very important quality for store of value. Gold is good, diamonds are better, but bitcoin is simply unbeatable from this point of view.

[Best Dreams]

gold will always be an interesting item to have and store. since ancient times gold has become a valuable item today. and investing in gold is always profitable even though it is quite low every year. but the price of gold rarely goes down. so it's not surprising if now people are still interested in investing in gold.

I think gold will not become obsolete, it will not be excluded by technology and time. we know that gold has been around for thousands of years, and the price continues to stabilize and even increase. we don't go back to gold. we always invest in gold

No doubt gold has long history since years people are investing into it and growing their money but it’s not an old age now. It’s modern age where people are in need of modernized technologies and I think crypto investment is the best investment ever. Gold is now an old investment which is not fully acceptable in this era.

[LeGaulois]

And why Gold isn't good in this current era? When we were in the 1500 BC we were in a new era and gold was still used.
It's not because the technology improved that it makes gold outdated. Actually, I would say gold is stronger than bitcoin (i take BTC as an example since we talk about technology)
Why central banks are massively buying gold so? I strongly believe central banks are smarter than me.

@fillippone
Have you invested in the diamond field?

[fillippone]

And why Gold isn't good in this current era? When we were in the 1500 BC we were in a new era and gold was still used.
It's not because the technology improved that it makes gold outdated. Actually, I would say gold is stronger than bitcoin (i take BTC as an example since we talk about technology)
Why central banks are massively buying gold so? I strongly believe central banks are smarter than me.

@fillippone
Have you invested in the diamond field?

Currently Gold is the best Store of Value (SoV).
This has to do with scarcity. All the gold ever mined in mankind history is basically a 70 meter cube. Gold is scarce means that the rate of gold mining is constant in history, above all constant regarding the price: spikes in prices basically cannot cause more gold digging (this is not true for other store of value, like silver).

Gold has proved in past century as a good SoV because goods priced in gold had constant prices, whilst in fiat money had increasing prices.

Now we live in a digital world: every aspect of our life has been digitised: communications, pictures, audio, money, wealth and so, sooner or later, a digitised world will need a digitised Store of Value. This is Bitcoin, as the only scarce digital asset available today.

Central banks are hoarding gold reserves because gold is a PROVEN store of value, Bitcoin is a tentative store of value, actually so far has been a subpar store of value because of volatility, that it is not a feature of a store of value (the opposite being true: SoV has a low volatility, above all in real terms).

Diamonds are historically a good store of value because of wealth concentration, in war times you could eat your diamond and safely carry your wealth in your stomach. But nowaday scarcity is totally artificial: not only we know diamonds are well abundant in Earth’s crust, but their scarcity is maintained by the monopolist supplier (De Beers) rigging the supply chain. In addition technology is now able to craft synthetic diamonds virtually indistinguishable from real ones. Diamonds are over imho.

[STT]

Gold is perfectly relevant even now.   It does not have be to held or exchanged as a piece of metal, it can be exchanged by agreement without physical transfer.    Economies circulate value and often multiple times between the same people, final settlement between countries is where actual transfer of the metal can occur hence the wording 'trading deficit' comes into play.

If theres any doubt why central banks have been net buyers of gold over 10 years its down to this difference.   We the people are still throwing bits of paper at each other while the long game is the final settlement of debts over decades and the price will be in gold not debt and bonds

The problem is wealth density.

$40k gold is the size of a smart phone.
$40k copper is 6.7 tonnes

Not a bad point but dont take these current prices as the set field for what is possible.   People said the same thing about bitcoin when it was 1 dollar, with only 21 million it could never be used for anything big because there isnt enough to go around.

Even now people want to argue about owning 1 bitcoin or not.  Obviously the idea is that most people only ever use bits not the entire coin, hence the name !

Same with any currency standard, forget the rich people.   I know everyone thinks its a top down system but thats a falsehood.   Same as democracy its down to the little votes that all add up, the smallest parts of an economy are what matters and is what drives growth.   The largest richest amounts often just want to preserve their purchasing power over time, hence land investment etc

[markj113]

I think there are a number of other base metals/products that one can invest in to store wealth

The problem is wealth density.

$40k gold is the size of a smart phone.
$40k copper is 6.7 tonnes

Reassure me, you don't know anyone with 6.7 tons of copper in his house, do you? Even the Gypsys don't have.

More no copper lol.

About 95% in gold and the rest in silver. 

Silver is bad enough for starting to take up space, wouldn't touch anything else

[laredo7mm]

Gold is the best investment. and there is no such significant decline. different from bitcoin. but also gold cannot have a significant increase. of course everyone has their own opinions about an investment

[LeGaulois]

@fillippone
I was interested in diamonds over a year ago and was even ready to go to Anvers... but that was when BTC was at $20k, since it didn't last long my interest too lol
I haven't known synthetic diamonds for long, I learned that from watching a documentary last year. I think by then there's a long way to go before it's used on a massive scale. And I think it will be very much framed, precisely to avoid finding synthetic diamonds in the jewelry for example.
(I may be wrong but De Beers isn't dominating as it did years ago.)

@STT
So true. People think they have to hold their gold at home, actually, I don't know anyone with gold stored under the bed. It was valid during the time of my grandparents but not in 2019

[fillippone]

@fillippone
I was interested in diamonds over a year ago and was even ready to go to Anvers... but that was when BTC was at $20k, since it didn't last long my interest too lol
I haven't known synthetic diamonds for long, I learned that from watching a documentary last year. I think by then there's a long way to go before it's used on a massive scale. And I think it will be very much framed, precisely to avoid finding synthetic diamonds in the jewelry for example.
(I may be wrong but De Beers isn't dominating as it did years ago.)

De Beers is quite ready to flood the market with synthetic diamonds, actually.
Here you can find the last of a series of articles (others on the FT, but there’s a paywall).

https://www.bloomberg.com/news/articles/2018-09-04/lab-made-diamonds-for-less-why-de-beers-s-plan-worries-rivals

Hope it helps!

[reisuke24]

im sure if someday people will comeback to gold. someday, there is nothing valuable than gold and silver. so, if you can buy, just buy for now.
gold is the best thing in the earth that you must have. technology still technology. if some fuel out of stock, you can walk with that technology

[wewe123]

The strong believers of cryptocurrency is set and ready for the up and down season of the market of cryptos , for gold it is a stable kind of investment and the value is not volatile compare to bitcoin, but I believe most crypto owners will not immediately goes back to gold, but continue to work for their coin investment.

[wildey]

im sure if someday people will comeback to gold. someday, there is nothing valuable than gold and silver. so, if you can buy, just buy for now.
gold is the best thing in the earth that you must have. technology still technology. if some fuel out of stock, you can walk with that technology

I think people will return to gold no matter what. in fact, when they already have a lot of money, or bitcoin, I think gold will be one of the things on their list to collect. for some reason, gold is a very good investment for now. and I feel that gold will always have a high price, and when we have it, we don't worry about the price in the future.

[wolfing]

In my opinion, maybe going back to Gold, because currently, a very lucrative investment is a Gold investment because Gold investment is a long-term investment because the longer we have a Gold meal, the more expensive the price will be.

[Bitfling]

With the current economy, the fears about the Brexit, Italy, the Sino-American problems and the general pessimism among investors; It looks like Gold is coming back the past months. At the same time, countries like the EU, Japan & China are reducing their investments in the economy,
(it should also reduce demand for the USD?)

Even the Central banks are buying more Gold (+13% from the previous year). Economists predict a dark year for 2019 and it seems a lot of large funds are now buying Gold massively. Especially from Asia and Soviets.

Gold is safe haven and i think people already know it. But for transaction, i dont think people will back to gold because its not flexible and its about security. As investment, i am believe people prefer choosing gold as long investment because its already known for centuries

[Best Dreams]

With the current economy, the fears about the Brexit, Italy, the Sino-American problems and the general pessimism among investors; It looks like Gold is coming back the past months. At the same time, countries like the EU, Japan & China are reducing their investments in the economy,
(it should also reduce demand for the USD?)

Even the Central banks are buying more Gold (+13% from the previous year). Economists predict a dark year for 2019 and it seems a lot of large funds are now buying Gold massively. Especially from Asia and Soviets.

Gold is safe haven and i think people already know it. But for transaction, i dont think people will back to gold because its not flexible and its about security. As investment, i am believe people prefer choosing gold as long investment because its already known for centuries

Gold is not safe because of its physical presence it’s hard to keep it away from street robbers and thief’s so I am sure people are not going to connect with good again once they try investing in bitcoin now is hardly possible for them to move again to 19th century where people were not having any other option than Gold.

[Dimas99]

it could happen because we know gold from the past until now is still valuable and still has value and interest may also be a good investment tool

[LeGaulois]

With the current economy, the fears about the Brexit, Italy, the Sino-American problems and the general pessimism among investors; It looks like Gold is coming back the past months. At the same time, countries like the EU, Japan & China are reducing their investments in the economy,
(it should also reduce demand for the USD?)

Even the Central banks are buying more Gold (+13% from the previous year). Economists predict a dark year for 2019 and it seems a lot of large funds are now buying Gold massively. Especially from Asia and Soviets.

Gold is safe haven and i think people already know it. But for transaction, i dont think people will back to gold because its not flexible and its about security. As investment, i am believe people prefer choosing gold as long investment because its already known for centuries

Gold is not safe because of its physical presence it’s hard to keep it away from street robbers and thief’s so I am sure people are not going to connect with good again once they try investing in bitcoin now is hardly possible for them to move again to 19th century where people were not having any other option than Gold.

Typical trash post.
You have no idea what is gold. Do you think people go on the street with their gold in their pocket? Do you think people are dumb as you to invest in Bitcoin. For your education, people had several choice to invest in. Again you know nothing. Don't you have a school in your city?

Thanks to reminding me to set the topics in self-moderated mode

[BLAST2MARS]

I don't see a return to precious metals for one reason: convenience. Yes, in this day and age, especially in China, there is less cash. So it's not going back to precious metals.

I totally agree. It's hard to force people to get back things when they already found a way where they feel that convenience that they need. Just think that people are now switching to online shopping so using gold is not a good idea at all.