Investing in gold in 2019

[Pipdips]

The news is out there right now.

What do you think about gold investments?

Is the US dollar going back to the Gold Standard?

Will the Gold Standard cause the price of gold to sky rocket?

Where do you buy gold? What form of it do you prefer?

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[mersal]

Investing on gold is always like secured form of investment.

Price of gold gradually increasing so we can trust on it but the growth is like 5-10% per year.

Gold bars but remember tax depends on your country.

[Pipdips]

Do they want to put the US Dollar back on the gold standard? Can anyone comment?

It would be $10,000 per ounce of gold?

[Coyster]

Do they want to put the US Dollar back on the gold standard?

Gold can be graded,bought and also sold on any currency, it just depends on the currency used in the transaction which determines it's evaluation.
It's mostly the USD though that's the used standard and that's because it's one of the most stable and popular currencies of the world.

It would be $10,000 per ounce of gold?

No one know this for sure(exactly),the price of gold fluctates, not that much though.
What determines the price of one ounce of gold is actually the spot price of gold, which is gold in its somewhat raw form, before its sold to manufacturers who shape it into whatever they wish, so based on the spot price do this manufacturers fix what the price of gold will be.
But mind you, to answer your question, the spot price is never standard, it changes frequently(every now and then) due to market trends and happenings.
So no it Wouldn't be 10,000 per ounce, it'll be whatever the spot price of gold is.

[Jet Cash]

They are going to shove the US dollar and the Euro under the bus. There is too much debt to try to preserve them. China and Russia have been buying gold like mad, so they may produce a gold backed currency. Government mints have been producing gold coins, and also changing laws to bring them back into payment systems. I believe that they will become the "cash" of the future. Their high values mean that only the rich can use them, and it will free them from the collapsing fiat systems.

[odolvlobo]

The USD will never return to the gold standard. It is not feasible. The U.S. government and the Federal Reserve are completely dependent the ability to print money.

[Pipdips]

I think Gold is going to make an enormous comeback possibly alongside Bitcoin. I do not own any gold.

[Cnut237]

Gold has value only because the consensus is that it has value. In and of itself its just a yellowish metal with limited real utility.

Bitcoin also has an absolute cap, whereas gold isn't really limited - you can say the Earth's total mineable supply of gold, but I'm sure we'll have asteroid mining for precious metals in the not too distant future, which could have a big effect on supply and value.

I think gold is on the way out. Over the next few years (or maybe decades) we will see crypto take its place. Bitcoin is a far better store of value, or at least it will be once the markets mature some more and the price volatility dies down. Physical money and money-analogues are archaic. People now prefer digital money, with all the convenience it offers. People going abroad used to sew travellers cheques into their clothing. Nowadays they use their bank cards to move seamlessly (but with fees) between currencies. In the future they will use crypto for near-instantaneous transfers at almost zero cost. Crypto will supplant fiat, and digital stores of value will replace physical stores of value. The only thing gold has going for it is history. The future shouldn't replicate history, it should learn from it and build something better.

[mersal]

I think Gold is going to make an enormous comeback possibly alongside Bitcoin. I do not own any gold.

Even though it if happens,the profits is not going to anything near to bitcoin's level.

[Pipdips]

Bitcoin also has an absolute cap, whereas gold isn't really limited - you can say the Earth's total mineable supply of gold, but I'm sure we'll have asteroid mining for precious metals in the not too distant future, which could have a big effect on supply and value.

What I put in bold: that is something I had not considered. That is very interesting.

However... if the ancient Egyptians thought gold was just some random metal they would not have wrapped their royalty in it like it was something precious and special that is related to the afterlife, and related to spirituality and health. There is something special about gold. Bitcoin on the other hand is just a bunch of 1's and 0's, x's and o's.

Gold is said to be pieces from a supernova that exploded and the fragments landed on Earth.

[Cnut237]

Gold is said to be pieces from a supernova that exploded and the fragments landed on Earth.

Quick aside, don't want to derail the thread: Pretty much every atom in your body was formed through nuclear fusion billions of years ago inside a now-dead star. The exception being hydrogen, helium and a few of the other lightest elements, which are likely much older and formed shortly after the Big Bang. We are each carrying a lot of history

[acmakc12]

The whole point is that in the near future they will not learn how to create gold by chemical means, it will be stable but at the same time grow slowly, but in the coming years I am sure that this is one of the safest types of investments, unlike cryptocurrency (if you take into account only price criterion).

[elisabetheva]

Gold investment has been done for a long time and there are still many who do at the same time of course to be used as accessories to beautify themselves, as well as the dollar has become an investment as well. about the price, maybe one will be the benchmark for price and usually gold is used. the price of gold does not seem to experience prices that are surprising, with prices soaring. besides experiencing inflation.
 

[Aero Blue]

I think a lot of time people don't want to invest in gold mainly because it's just a pain. It's expensive, often times hard to find a seller, associated risks involved, at that point it's just easier to keep USD (backed by government). If you are afraid of the dollar becoming worthless, in the event that it does, your gold isn't going to mean shit compared to canned food.

[aplistir]

I think a lot of time people don't want to invest in gold mainly because it's just a pain. It's expensive, often times hard to find a seller, associated risks involved, at that point it's just easier to keep USD (backed by government). If you are afraid of the dollar becoming worthless, in the event that it does, your gold isn't going to mean shit compared to canned food.

Wouldn't say that.
If dollar becomes worthless, Gold (or bitcoin) would be a better option. Dollar is a fiat currency backed by trillions of dollars worth of debt, It can collapse and it wouldn't necessarily mean that all other currencies would also collapse and canned food would be the new currency.

Do you suggest that everyone should be investing in canned food. Ok. What to do after you already bought canned food with 20000$ where do yo invest the rest of your money? Somewhere where the value is saved...

[Aero Blue]

I think a lot of time people don't want to invest in gold mainly because it's just a pain. It's expensive, often times hard to find a seller, associated risks involved, at that point it's just easier to keep USD (backed by government). If you are afraid of the dollar becoming worthless, in the event that it does, your gold isn't going to mean shit compared to canned food.

Wouldn't say that.
If dollar becomes worthless, Gold (or bitcoin) would be a better option. Dollar is a fiat currency backed by trillions of dollars worth of debt, It can collapse and it wouldn't necessarily mean that all other currencies would also collapse and canned food would be the new currency.

Do you suggest that everyone should be investing in canned food. Ok. What to do after you already bought canned food with 20000$ where do yo invest the rest of your money? Somewhere where the value is saved...

Never said to invest in canned food, I don’t know where you got that. But if the US dollar collapsed, gold wouldn’t matter, it would be absolute anarchy at that point.

[SaltySpitoon]

I highly advocate investing in gold. Its not necessarily going to make you rich as an investment, but its a secure and liquid store of wealth. There are a ton of use cases for why gold is still useful in a collapse situation (I mean financial crisis, not end of the world zombie doomsday). We don't even need to talk hypotheticals, look at Venezuela for example. Gold is a globally accepted commodity, meaning its stable across the world not by a government guarantee but by supply and demand from 7 billion individuals. If your government doesn't play nice with others or makes bad monetary policy decisions, your gold is still worth its weight in gold. It might be tough to find a local buyer if the situation is so dire that your number one priority is canned food, but sell your gold to someone in another country not having a financial crisis for lots of canned food.

https://www.forbes.com/sites/greatspeculations/2018/08/06/wait-until-you-see-the-price-of-gold-in-venezuela-right-now/#279bd85b5fd2


This is marginally related but an interesting point that I think is worth being brought up. A lot of Asian countries still commonly use gold as a currency. In Thailand, 14 karat gold jewelry is a joke, everything is made of higher (22/24) karat gold. Its not uncommon for people to take the jewelry off of their body to exchange for other goods. There is no reason that any other country in the world couldn't operate like that, its just not widely done because its not necessary elsewhere. I had a Thai friend explain it to me in this way. Where bank account holders are rare in poorer populations, gold serves rather than carrying stacks of paper money. Wearing gold jewelry is like having access to a debit card in the same way that you may be used to.

[TimeBits]

It Does not matter if we go back to the gold standard or not.

Gold will always go up in value over time in the long. Even if the price of it was $0 USD.

The value of it, is it finite amount of metal, that does not corrode very easily. Something we will use a lot of on spaceships/sats and computers.

[teddyelwyn]

Have you heard of interstellar mining? I would recommend looking into it especially if anyone thinks that there is a capped supply of gold here on earth

[Pipdips]

Have you heard of interstellar mining? I would recommend looking into it especially if anyone thinks that there is a capped supply of gold here on earth

Completely awesome. My guess is that space mining is already occurring.

The thing about gold is that it's main store of wealth is not really monetary like money to be exchanged. Gold is actually a spiritual substance. Gold is able to morph from solid, to liquid, and to salt, back and forth, into suspended pure vibrating energy. Gold is something that can literally be chemically transformed and risen from the dead. When it is a gold bar it is dead, but gold can be transformed into living material.

That is how the Egyptians were using gold. Gold was a spiritual substance reserved for ancient Egyptian royalty. That information oddly continues to not be mainstream knowledge for people today, but it will be understood again in our modern society, very soon.