Gold Price Prediction & its impact on cryptocurrencies

[jademaxsuy]

It is still a prediction and that prediction maybe right but when it comes to inflation rate I guess it is much faster tha ln the bullish thing predicted with gold. Inflation rate is always high and this is why we experience buying basic commodities too expensive.

Here in our place if then oil company can make a high increase in just a short period of time and if this happen other commodities too will increase this because most of the products depend on the oil company like most are doing transportation of products from one place to another.

And if it really happen that gold will make an increase cryptocurrency with back up gold will likely to make a increase too.

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[imstillthebest]

its really good to invest on gold nowadays..I am seeing lots of people interested in selling gold but i prefer to buy for my investment..and ofcourse I will continue to do cryptocurrency as this is a good investment too.

your just in time because if many people sells gold that means gold will dump in price  while you , you can score more gold for a friendly price .

 we dont need to be discourage if we see many people sell gold but there could be a different reason why they do that . it can be that they got interested on crypto but they dont have funds yet so they sell gold for a while

[Febo]

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

I was wondering about these 'gold-backed' coins, I never give a damn about it coz I never believe they really have gold to back their coins, I mean if there is then it is a stable coin which is futile to invest into. True, you could have just bought a gold and keep it to yourself, you don't need intermediaries when having gold it is better to have it on your hands. If you want gold in digital form, bitcoin is winking at you right now lol

It is not just that they are intending to scam you. Anything can happen. They can make some bad investment and to pay debts debtor takes "your" gold. Or they get robbed. Or ...  A lot of unneeded additional risk.  If you own apartment or house, where you can safely store your gold it should be no brainier. If you dont own apartment or house you should rather use money there and not buying gold in first place.

[lepbagong]

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

I was wondering about these 'gold-backed' coins, I never give a damn about it coz I never believe they really have gold to back their coins, I mean if there is then it is a stable coin which is futile to invest into. True, you could have just bought a gold and keep it to yourself, you don't need intermediaries when having gold it is better to have it on your hands. If you want gold in digital form, bitcoin is winking at you right now lol

It is not just that they are intending to scam you. Anything can happen. They can make some bad investment and to pay debts debtor takes "your" gold. Or they get robbed. Or ...  A lot of unneeded additional risk.  If you own apartment or house, where you can safely store your gold it should be no brainier. If you dont own apartment or house you should rather use money there and not buying gold in first place.

I still perceive things that are not the same as the purpose of bitcoin itself, I understand that maybe he wants to invest in gold in the form of metal with the symbol of bitcoin but what is the benefit because investing in gold is just different from what is usually possible in the form of bars, necklaces, bracelets and other.

Bitcoin investing is not the same as investing in gold for two different things and you won't get more of what you do. and it is true that the other colleagues said why not just do it for gold.

[Vishnu.Reang]

Gold is one of the few assets, which has given consistently good returns for the past 100 years or so. But the problem with gold is that it is a long-term asset. It is not suitable for short-term investments. Also, storage of gold is an issue. In order to circumvent this problem, you can go for the paper gold (ETF), but I won't regard them as 100% safe.

[bitgolden]

Gold doesn't impact bitcoin prices but the same thing impacts both bitcoin and gold. People have to realize this, gold and bitcoin are both store of value stuff and there is no way that people could see them any differently from each other in that sense.

Obviously gold is a much much bigger investment thing in the world, god knows what the marketcap for gold overall is, I am not even sure if we know total supply of gold as a whole between all the gold lost and all the gold not accounted for and so forth but that same thing could be in bitcoin as well, tons of bitcoin has been lost as well. In any case, we are looking at two investments people put money into because they believe fiat will devalue and they want to keep their purchasing power the same so they invest into these two.

[Febo]

I have seen a lot of cool gold-backed coins, and there was one I saw that is backed by several precious metals, and it’s really cool. I just have to take my time and look into them before investing.

Why dont you simply buy Gold? You hold gold then without any risk that that company that issued token backed with gold will scam you. You will have Gold in your hands.

I was wondering about these 'gold-backed' coins, I never give a damn about it coz I never believe they really have gold to back their coins, I mean if there is then it is a stable coin which is futile to invest into. True, you could have just bought a gold and keep it to yourself, you don't need intermediaries when having gold it is better to have it on your hands. If you want gold in digital form, bitcoin is winking at you right now lol

It is not just that they are intending to scam you. Anything can happen. They can make some bad investment and to pay debts debtor takes "your" gold. Or they get robbed. Or ...  A lot of unneeded additional risk.  If you own apartment or house, where you can safely store your gold it should be no brainier. If you dont own apartment or house you should rather use money there and not buying gold in first place.

I still perceive things that are not the same as the purpose of bitcoin itself, I understand that maybe he wants to invest in gold in the form of metal with the symbol of bitcoin but what is the benefit because investing in gold is just different from what is usually possible in the form of bars, necklaces, bracelets and other.

Bitcoin investing is not the same as investing in gold for two different things and you won't get more of what you do. and it is true that the other colleagues said why not just do it for gold.

Bitcoin is not a token backed by gold. Bitcoin is bitcoin and if some want to call it digital gold that is just that. My point was that I would chose real gold over gold backed tokens. 
Why I am choosing Bitcoin over Gold? Simply because of my speculation that price of Bitcoin will move up much more then Gold in next 10 years.

[suvo05]

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

I won't be surprised if the gold price gone that far in the future. It's a precious metal with a limited stock as after a certain period finding gold will be too difficult.  In the Asian countries each people store the GOLD as treasure. They rarely trade with it.

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

The coin you referred, is a stable coin, promised to be backed up by real gold,( a coin priced equally as 1 gram of gold). The project is new and we need to wait and see how they performed. I have seen some of the cryptocoins back by precious metal has not performed well in earlier. They were not stable coin though. 

[jaysabi]

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

Putting Bitcoin as a safe investment along with gold and silver is laughable. Things that routinely fluctuate 10% or 20% in a day are not safe havens to store wealth.  Gold has thousands of years of history as a (relatively) stable store of value, but bitcoin has barely a decade and it's rife with horrific crashes. There's no way you can make a credible argument that something that volatile can be a safe haven. And to be clear, investing in gold and silver doesn't make you rich, it protects what you already have from inflation (generally speaking). So that's why people call them safe havens. On the whole, they're rather terrible investments though.

[exstasie]

Putting Bitcoin as a safe investment along with gold and silver is laughable. Things that routinely fluctuate 10% or 20% in a day are not safe havens to store wealth.  Gold has thousands of years of history as a (relatively) stable store of value, but bitcoin has barely a decade and it's rife with horrific crashes. There's no way you can make a credible argument that something that volatile can be a safe haven.

Agreed, but I do think Bitcoin's monetary policy lends itself to being a store of value. It just can't be done overnight. This volatile price discovery is theoretically just part of the early adopter phase, for the same reason startup penny stocks can be so volatile. Investors are speculating on a rather binary situation: mass adoption (or capturing major market share)......or failure.

If the first scenario plays out, I could see price plateauing an order of magnitude or two higher than now, with volatility gradually declining as the speculative nature of Bitcoin becomes fully priced in over time.

Gold is still considered a rather volatile asset, easily fluctuating 1-5% in a day (it fell 6% in a day last month). I could see BTC eventually occupying a similar store of value niche and degree of volatility to gold, or certainly silver. It might take decades to get there, and maybe I won't live to see it.

[Shasha80]

Lots of articles that show Gold price prediction performance, and like the prediction in the opening post it shows that Gold really is
good as a safe investment. That's why big investors like Warren Buffet finally decided to buy Gold. This has become strong evidence
that Gold is indeed a safe investment. And some of the articles I read show Gold is getting popular  in 2020. In my opinion Bitcoin
and land property are another safe investment alternative besides Gold.

[The Sceptical Chymist]

Gold is one of the few assets, which has given consistently good returns for the past 100 years or so.

Really, are you certain about that?  Have you taken inflation into consideration?  And anyway, I'd say that gold has been a lousy investment since 2011 when it peaked and then started its long, slow decline.  Interestingly enough, from 2011 to present, you could constantly read quotes like this:

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.

....and articles hyping gold's value as a hedge against inflation, and all of the same arguments for gold that goldbugs make whether the market for gold is up or down.  For them, there's never a bad time to buy or a good time to sell.  You know why?  They want to sell you gold.

My advice would be to tune out anyone who makes outrageous predictions about the price of gold (or silver), because those predictions are usually made to keep the name of the person who made the prediction in the news, to keep themselves relevant.

That's why big investors like Warren Buffet finally decided to buy Gold.

That's highly unlikely, and I'm assuming you're not familiar with Buffett's investing style.  He actually invested in a mining company and not physical gold, and my guess is that he sees value in the business itself rather than being bullish on gold.

[nasipadang]

Gold and silver in many predictions will go up high, I also got info from some stock players and investors that I know. Seen from gold, which is a safer and more useful investment to avoid inflation, which is quite good. Whereas stable gold coin I pay less attention to it because I prefer real gold for a safe investment, but if I think it will also affect the stable coin, it is the same as USDT with the dollar price.

[naikturun]

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

I think you are a little wrong, you have to put property in place of bitcoin, because after all property is still more desirable than bitcoin,
I corrected:
Unsafe Investments: Stocks / bitcoin / Fiat Money
Safe Investments:  Gold / Silver / Land  Property  

My advice would be to tune out anyone who makes outrageous predictions about the price of gold (or silver), because those predictions are usually made to keep the name of the person who made the prediction in the news, to keep themselves relevant.

So in fact, whether it's gold, silver, bitcoin, or any other commodity, nothing is too good, only those who promote it make the price go up / down depending on the news reported.
and of course keep their names relevant.

[bryant.coleman]

Gold and silver in many predictions will go up high, I also got info from some stock players and investors that I know. Seen from gold, which is a safer and more useful investment to avoid inflation, which is quite good. Whereas stable gold coin I pay less attention to it because I prefer real gold for a safe investment, but if I think it will also affect the stable coin, it is the same as USDT with the dollar price.

Don't even compare shitcoins such as USDT with gold. Gold is being used as a store of value for thousands of years. USDT is a token issued by the Bitfinex exchange, which is pegged to the USD. The USDT can lose its value anytime, if something untoward happens to the Bitfinex exchange. On the other hand, the value of gold is indestructible. As the human population goes up, the per capita availability of gold will decline, and as a result its purchasing power will continue to increase.

[Andronadar]

Gold really very often affects other currencies, which is why you need to monitor it carefully.

[exstasie]

Gold is one of the few assets, which has given consistently good returns for the past 100 years or so.

Really, are you certain about that?  Have you taken inflation into consideration?  And anyway, I'd say that gold has been a lousy investment since 2011 when it peaked and then started its long, slow decline.

That's cherry picking though. I could also cherry pick and say gold rose 650% between 2001 and 2011. Those are very impressive returns for a decades time, don't you think?

[abhiseshakana]

Gold will go up in the long term. Because the demand for gold is increasing, both from the central banks and from the individual investors. Especially the central banks in Russia and China have accumulated a lot of gold during the last 5-6 years. In 2014, the Russian gold reserves amounted for just around 1,000 tonnes. The figure stands at 2,300 tonnes as of 2020 (almost 1.2% of all the gold mined till now).

Even though the world is currently controlled by the dollar without an underlying gold as collateral. However, many countries and even the United States themselves realize that gold as the underlying currency printing is a necessity. Without "underlaying" the currency as strong as the dollar will be vulnerable. Evidenced by the subprime mortgage.

The actions of China and Russia to increase their gold reserves are a sign that the United States will return to using gold for the underlying dollar in the future. Although the penetration of the Yuan can be ignored in international trade, the dominance of trade and financing has been dominated by China, but to win the currency warfare and maintain the currency domination of the petrodollar, the steps that America can play are to increase its gold reserves and manipulate the price of gold to increase its value, balanced with the dollar value that has been printed so that the dollar has a foundation. Don't forget that gold is a commodity that is easy and full of manipulation.

[ChiBitCTy]

As an investment advisor by trade I'm often reading articles about the market and that includes commodities such as gold.  I personally think this guy is completely full of shit and had no idea what he's talking about.  Gold does have solid and important real world uses, physical uses ( example used for jewelry and HDMI cables) that should keep it's value relatively high and stable, but seeing it go up this high is extremely hard to comprehend since we've just recently seen all time highs.  Personally I think this guy is at his all time high, and has no idea what he's talking about.

[beerlover]

Gold is literally physical bitcoin. I have never seen a single difference between them except for the fact that gold is regulated heavily whereas bitcoin is not regulated at all. You can send 10 billion dollars worth of bitcoin from any nation to any nation, even from China to USA which is a very very difficult task to do with fiat or gold because of political reasons but when talking about bitcoin you can do it in 30 minutes and not have any problems because you are anonymous.

Whereas if you want to do the same thing with gold, take from one nation to another, it is a bunch of headache and paper work. Aside from that mobility issue, gold and bitcoin are the same things, just a store of value thing where you try to keep your money eroding in value because of inflation.