Gold Price Prediction & its impact on cryptocurrencies

[Sirait]

^ I just read about the prediction that the price of gold will go to the moon.

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital. This is a New York-based fund management company focused on gold research (Myrmikan Research) and fund manager Myrmikan Gold Fund.

Referring to the rules in the market, one troy ounce is equivalent to 31.1 grams, so the amount of US $ 10,000 per troy ounce projected by Dan Oliver, then converted by dividing the number by 31.1 grams, the result is the US $ 321.54 / gram

the price of Gold for the past few years

https://goldprice.org/spot-gold.html

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD Stablecoin.

#feel free to discuss

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[virasog]

I just read about the prediction that the price of gold will go to the moon

Not only gold but silver prices will also rise high. Both Gold and silver are safe heaven if you are looking to invest your money.

Unsafe Investments: Stocks / Land  Property / Fiat Money
Safe Investments:  Gold / Silver / Bitcoin

[flippener]

Not only gold but silver prices will also rise high. Both Gold and silver are safe heaven if you are looking to invest your money.

Unsafe Investments: Stocks / Land  Property / Fiat Money
Safe Investments:  Gold / Silver / Bitcoin

I kinda agree but I would separate land and property. Many properties are hugely overvalued, typically apartments in town centres (who wants to live there if pandemics become regular) but land - real land where you can grow food - is the best investment of all. You can't eat gold.

[Xxmodded]

Gold become best and secure investment for the future without risk lower price, different with bitcoin and altcoin because have bigger risk when bitcoin and altcoin going down, many people like for investing with gold for long term and take much profit with bitcoin as short investment term, by the way bitcoin could up suddenly more than 100% few years only.

[Lorence.xD]

Gold become best and secure investment for the future without risk lower price, different with bitcoin and altcoin because have bigger risk when bitcoin and altcoin going down, many people like for investing with gold for long term and take much profit with bitcoin as short investment term, by the way bitcoin could up suddenly more than 100% few years only.

Natural resources that cannot be replenished will only get higher prices as far as the demand goes, in my opinion the price will only get bigger but now is not the time. These gold backed cryptocurrencies will have the advantage, the only problem with gold is that there isn't that much market that is available to the public, that is about it, in terms of security in investment, the chances of gold price plummeting is low.

[TheUltraElite]

-snip-

I dont completely agree with your choices though. This is a bitcoin forum and thus a thread like this will get a response like yours but still it is not a logical one.

You see, gold and property are limited resources and thus their demand will be rising as population grows, because hey, they love to breed like rabbits dont they?

Anyway bitcoin is also having a limited supply so it is also a winner here. But fiat money is obviously not a good thing to keep your money in. Stocks are good if you know what the put money into and when to exit. Its needs more daily analysis to keep up and difficult to maintain a proper portfolio. Invest in consumer good sector in stocks when prices are low, you will be getting a green streak.

[btcltcdigger]

- / -

Basically he's saying that gold will moon, that is go 10x higher than it is now.
Honestly, i doubt it. IMHO it might go up or down, but not by 10x for sure, atleast not in the sence we're seeing in crypto.
In the next 5000 years it might be worth 10x than now, once all ores are depleted and we have 1 trillion population

[abhiseshakana]

Many investors feel that now is not the right time to add gold investment because the price is high. The soaring prices of gold and precious metals are very likely in the future with the simple consideration that with the existence of a pandemic and the uncertainty of the global situation about the end of the pandemic, people assume that gold is still the safest asset in the long run. Everyone hopes that the pandemic ends as soon as possible and with minimal damage, only:
"The certainty of recession + fear of depression + experience of great depression + uncertainty about vaccines = pessimism on fiat and its derivative products and optimism on gold"

On the US side, the creator of the world economic system. The US realized that the creation of a dollar without an underlying gold could cause fragility even to fiat that was as strong as the dollar. Subprime mortgages provide enough valuable lessons for the US that printing money needs to be underlying so that the dollar does not overvalue. The actions of many countries that add gold as foreign exchange reserves will also make gold more valuable.

The latter though is considered without a scientific foundation. The increasing Muslim population in the world also makes gold more valuable. Because in Muslim teachings only gold and silver are recognized as money and a monetary system with an underlying gold that creates justice for all humans. There is even a certainty in the teachings of Islam that there will be a value of cooking there will be no value and only gold and silver are valuable. With the increasing population of Muslims in the world, the demand for gold will be even greater which will ultimately affect prices.

https://www.visualcapitalist.com/golden-bulls-the-price-of-gold/

[cengat]

- / -

Basically he's saying that gold will moon, that is go 10x higher than it is now.
Honestly, i doubt it. IMHO it might go up or down, but not by 10x for sure, atleast not in the sence we're seeing in crypto.
In the next 5000 years it might be worth 10x than now, once all ores are depleted and we have 1 trillion population

I agree on that. And I don't see bitcoin go 10x neither, its just too unrealistic (in compare to bitcoins supply and demand)

[jacafbiz]

Gold price is likely going to continue to increase steadily but won't spike like the way most Gold bugs are predicting because FEDs and Central bank Governors won't allow that to happen. I see people calling $5k price but I don't see that happen because it is going to make things go out of control for the FEDs

[Alt Coiner]

Not only gold but silver prices will also rise high. Both Gold and silver are safe heaven if you are looking to invest your money.

Unsafe Investments: Stocks / Land  Property / Fiat Money
Safe Investments:  Gold / Silver / Bitcoin

I kinda agree but I would separate land and property. Many properties are hugely overvalued, typically apartments in town centres (who wants to live there if pandemics become regular) but land - real land where you can grow food - is the best investment of all. You can't eat gold.

I would recommend to invest in both, if possible. Diversification is always best when investing, unless you're all-in or you really prefer one against the other forms of investments.

[Rengga Jati]

Gold is considered one of the valuable assets for investment, moreover for long term investment. What makes gold so special? At least, there are three features of gold as the basic criteria and also features:

• It is relatively durable
  It is relatively rare
  Its industrial uses are limited and substitutes for gold in the industry are plentiful

Besides, gold is also valuable because of some reasons:
1. there is the weakness of the fiat (especially USD)
2. Inflation Hedge
3. Deflation Protection
4. Limited Supply Constraints
5. Increasing Demand
6. Portfolio Diversification
7. Gold is available to be investment assets, stock, jewelry, and also other function.

In this case, I'm not good at predicting the price and I don't have any ideas about it. however, the value of gold will never decrease, it will always increase during the time, moreover when there are most demand and limited supply.

related to the price of the crypto-backed by the gold, it will depend on their initial product. If the price is set following the price of gold, of course yes, the price of the crypto-backed by gold will also be increasing if the project still exists.

[greenlanternlight01]

I just read about the prediction that the price of gold will go to the moon

World gold is predicted to fly to US $ 10,000 / troy ounce, by Dan Olivier, founder of Myrmikan Capital. This is a New York-based fund management company focused on gold research (Myrmikan Research) and fund manager Myrmikan Gold Fund.

Referring to the rules in the market, one troy ounce is equivalent to 31.1 grams, so the amount of US $ 10,000 per troy ounce projected by Dan Oliver, then converted by dividing the number by 31.1 grams, the result is the US $ 321.54 / gram

the price of Gold for the past few years

https://goldprice.org/spot-gold.html

are you sure the price of gold will break $ 321.54 / gram and how will it affect the crypto backed-gold currencies like GOLD stable coin

give your opinion

I found a platform years ago where to invest in gold. It's called global intergold. Not sure if it is still operating, but it is a legit business. Only thing that you need to make sure is that you join the legit team in order to claim your gold mini bar. You actually have the option to earn gold or have it encash. It's your choice.

[Hisdows18]

The increase in gold prices is a reflection of the assumed inflation and therefore a measure of the real value of the dollar.
The price of the dollar is declining and therefore the value of gold is rising.
I expect to break the 2000 $ or $ 2,500 in worst case but I may assume that we will take some time to get that value.
The pandemic continues to have a major impact and strain the economy.

[yhiaali3]

We have noticed in the recent period a significant rise in the price of gold globally as a result of the Corona virus and people's fear of the collapse of the economy, this is normal when the economy of a country collapses its currency becomes worthless and therefore people resort to buying gold to preserve the value of the currencies they have, this leads to a rise The demand for gold has increased dramatically and its price has increased dramatically. This is what happened. I think the price of gold will increase more and more. Of course, the price of cryptocurrencies associated with gold will increase because people will also buy these cryptocurrencies like GOLD stable coin.

[el kaka22]

Is he joking? I mean gold is something that gains value over time and I agree that in 20 years gold will become a lot more, but seriously? That much? Gold doesn't increase that much at all. If anything even bitcoin may not gain that much value.

However I wouldn't want to scare off any gold investors, gold is something very valuable and scarce and I have always considered gold to be the original bitcoin, it was used for transactions for a long period as well as gold coins too but eventually became very expensive to use as a momentary  thing and stopped using gold and turned into silver and other stuff over time. If you can buy gold, you should definitely buy gold, it would at least prevent you from losing the worth of your assets in the long run when fiat is losing value at the same time.

[sunsilk]

There will be a greater rise once this pandemic ends. As you can see, many are losing jobs, there's no more job security on these times. This will make them think about how to retain the value of their savings and will make them find a store of value.

Gold could be the first option of those people that are not aware or scared of bitcoin. There will be an impact because economy's not that good. And as for wise investors, they understand that this time is the best time for most investments to get in such as gold.

[vaultman]

In my opinion, gold has value due to its chemical properties. That is, if a chemical element is found that is better than gold, then gold will depreciate. Sooner or later this must happen

[Kemarit]

In my opinion, gold has value due to its chemical properties. That is, if a chemical element is found that is better than gold, then gold will depreciate. Sooner or later this must happen

What do you mean? I mean gold has existed for thousands of years and within that time frame, no one has discovered, of course there is Platinum and Rhodium, more expensive but it can't really replace Gold up to this point.

Gold has been steadily climbing in the last decade or so, but just like any other investments out there, it also went into a bubble. However, it still has the potential to grow in the future, but it will take some time to see a good returns, $ 10,000 / troy ounce? I don't know how long will it take to reach that levels.

[StonksStonksStonks]

the price of gold started mooning after 2009 because people started learning about the history of money and the end of the gold standard. When Quantitative Easing started in 2009 people googled it and found some gold bug youtube videos, or articles on gold bug websites. They learned about the history of money and how paper currency is trash.

Pirior to the internet people had no way of learning much about monetary policy and the history of gold/fiat/money.(unless they wanted to spend days in the library reading books, which is really uncommon). So as the internet and espcailly high speed internet became popular it became easier for people to learn about this stuff. And thus gold buying by the masses begun.