What do you think of gold price in long term?

[odolvlobo]

Yes. Only photographically, and I haven't understood how they've known it's made out of gold, or how far that is.

Its density has been determined, and it implies that it is from the core of a planet. They they have some knowledge about the composition of the core of a planet, so they use that to estimate the amount of gold and other metals.

Nobody will extract any gold from that asteroid if the price of gold is not high enough to make a profit.

Depends on how it would be divided. If one entity, or one government, suddenly acquired this gigantic amount of gold, it could essentially monopolize. The price of ounce would definitely drop, but the market capitalization of total gold wouldn't have a reason to change, right?

Assuming that it would not be profitable, I suppose an entity could mine all the gold and sell it at a loss, but why would they do that?

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[Sithara007]

There is a lot of gold in the planet. The only problem is that only a very few deposits make financial sense for extraction. Other deposits are of low quality, and it costs more to exploit them compared to the potential returns. However, as the gold prices increase, many of these deposits may become financially viable. And another factor is the environmental damage. A large fraction of the gold output comes from regions such as Amazon rainforest. As countries implement more environmental friendly regulations, the output from these regions may decline. 

[Xampeuu]

unlimited supply of gold in this world and every day is always mined to affect the development of the existing ecosystem. but until now trust in gold is still perfect, so that everyone thinks the same, namely gold is suitable for investment tools. I think that if public confidence in gold is maintained in the future, the price will be higher, and it is suitable for long-term investment, even though the price fluctuates.

[Davian144]

unlimited supply of gold in this world and every day is always mined to affect the development of the existing ecosystem. but until now trust in gold is still perfect, so that everyone thinks the same, namely gold is suitable for investment tools. I think that if public confidence in gold is maintained in the future, the price will be higher, and it is suitable for long-term investment, even though the price fluctuates.

Price fluctuations in gold are also not too large every year, so people still tend to have greater trust in gold even though it is not for investment purposes, because there are also people who use gold only for jewelry or to decorate themselves without thinking about investment. Even though there are many who store gold for investment purposes, considering that trust in gold is still very large and has not decreased in the eyes of the public.

[Argoo]

unlimited supply of gold in this world and every day is always mined to affect the development of the existing ecosystem. but until now trust in gold is still perfect, so that everyone thinks the same, namely gold is suitable for investment tools. I think that if public confidence in gold is maintained in the future, the price will be higher, and it is suitable for long-term investment, even though the price fluctuates.

It cannot be said that there is an unlimited supply of gold on our planet. Gold has been mined from the bowels of the Earth for many millennia and its reserves are depleted like other minerals. It’s just that the tools with which gold is mined are constantly being improved, and therefore the amount of gold mined is growing. As money and a means of payment, gold will always be in demand in the foreseeable future. The situation, for example, may change if humanity masters at least near space and brings a lot of gold to Earth. Then, of course, it will fall in price as the supply increases.

[Renampun]

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However, we haven't seen any significant changes in gold price yet to approve the above news.

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

Until now, many world governments have continued to increase their gold reserves in order to keep their fiat currency stable and can be used at any time to buy back when their fiat currency falls or the investment value in their country decreases, but because the current supply of gold is sufficiently abundant, making the price remain in the stable category.

Price fluctuations in gold are also not too large every year, so people still tend to have greater trust in gold even though it is not for investment purposes, because there are also people who use gold only for jewelry or to decorate themselves without thinking about investment. Even though there are many who store gold for investment purposes, considering that trust in gold is still very large and has not decreased in the eyes of the public.

I still remember my mother's words very well, that I have to have gold as a long-term investment because the demand will continue to exist and the resale value in the future will not make a loss. from there I think that since long ago, many people have depended on their investments in gold and it is difficult to change, and it can last for decades to come. for stable long-term investment, I think gold is very good but to get rich from gold investment, I think it's difficult.

[jokers10]

There is a lot of gold in the planet. The only problem is that only a very few deposits make financial sense for extraction. Other deposits are of low quality, and it costs more to exploit them compared to the potential returns. However, as the gold prices increase, many of these deposits may become financially viable. And another factor is the environmental damage. A large fraction of the gold output comes from regions such as Amazon rainforest. As countries implement more environmental friendly regulations, the output from these regions may decline. 

And there's even more gold in the space. One day someone will decide to get a golden asteroid to Earth and gold price will will fall really quickly. Fortunately bitcoin has no such backdoor at the moment. And fortunately gold price is not decisive for the world economy. It is just a familiar asset for investing.

Of course all metals will keep their importance in long term, but I think that more in an utilitarian sense than in financial.

[Pejoh Asu]

It can be said that gold is the best investment choice compared to anything, if we invest in property and then a disaster occurs, for example an earthquake, of course property prices will drop, or stock investment can drop at any time, while gold is an investment that has almost the same trend all over the world, this is because gold has been used for thousands of years and will continue to be used, countries that use gold will never be affected by inflation like countries that only rely on fiat.

[Dickiy]

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

In my opinion is the era of gold over, because it's not the safe haven anymore everybody thought it would be. In the past gold was viewed upon as the main commodity to keep it's value during a crisis. For my parents and grand parents is was normal to store some of their money in gold. For them it was the best hedge against inflation on which they could always count on. But now we are seeing that it's not true anymore, over the last 12 months we reached an inflation of 10% and still the gold price dropped 8% in the same time. More and more investors are going to realise this and will lose their interest in gold long term. That is why I don't think the price of gold is going to rise long term. There is still a lot of demand for gold in the production sector and for jewelry, that will keep the gold price around the 1500 USD level. But the investors are going to reduce their gold holding long term and together with higher inflation it's not going to be a profitable trade.    

Even though the Gold era is over, I think gold will be one of the best choices for standardizing value in any case. If you look at it from a price point of view, I think it's a reasonable thing because it can be influenced by supply and demand in the market, the percentage of inflation. the gold that you showed me I think it is a normal and good calculation during the crisis. At this time maybe many investors have switched their investments from gold because it is boring and takes too long to take profits, I think maybe the trend this time for gold has decreased but who knows going forward as bankers and governments rush to buy gold for a better hedge because until today gold remains valuable in everyone's eyes and what is likely to happen is that the precious metal will increase in price drastically when no currency can believed again.

[Ayers]

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

In my opinion is the era of gold over, because it's not the safe haven anymore everybody thought it would be. In the past gold was viewed upon as the main commodity to keep it's value during a crisis. For my parents and grand parents is was normal to store some of their money in gold. For them it was the best hedge against inflation on which they could always count on. But now we are seeing that it's not true anymore, over the last 12 months we reached an inflation of 10% and still the gold price dropped 8% in the same time. More and more investors are going to realise this and will lose their interest in gold long term. That is why I don't think the price of gold is going to rise long term. There is still a lot of demand for gold in the production sector and for jewelry, that will keep the gold price around the 1500 USD level. But the investors are going to reduce their gold holding long term and together with higher inflation it's not going to be a profitable trade.    

Even though the Gold era is over, I think gold will be one of the best choices for standardizing value in any case. If you look at it from a price point of view, I think it's a reasonable thing because it can be influenced by supply and demand in the market, the percentage of inflation. the gold that you showed me I think it is a normal and good calculation during the crisis. At this time maybe many investors have switched their investments from gold because it is boring and takes too long to take profits, I think maybe the trend this time for gold has decreased but who knows going forward as bankers and governments rush to buy gold for a better hedge because until today gold remains valuable in everyone's eyes and what is likely to happen is that the precious metal will increase in price drastically when no currency can believed again.

Gold is still there, still a top priority asset, and never out of hot. In the past year, countries taking advantage of the economic crisis have hoarded gold in large quantities, it can be said that gold is still considered a top priority asset of the national reserve budget. Just because we don't invest in gold doesn't mean it's obsolete or that no one needs it anymore. We invest in bitcoin because we don't have too much money, and we want to find a get rich quick investment, it's true. As for gold, it's for larger investors, when you buy a small amount, the profit will not be significant, but if you trade with a large amount, the profit is not small.

[Cryptmuster]

It can be said that gold is the best investment choice compared to anything, if we invest in property and then a disaster occurs, for example an earthquake, of course property prices will drop, or stock investment can drop at any time, while gold is an investment that has almost the same trend all over the world, this is because gold has been used for thousands of years and will continue to be used, countries that use gold will never be affected by inflation like countries that only rely on fiat.

Gold has advantages and disadvantages over other traditional investments. Real estate and gold have always been a priority investment for the elite, and this is likely to remain unchanged for a long time to come. But if a person does not own large capital, then he needs to look for something more promising, like bitcoin. But besides bitcoin, I invest some part of my savings in gold, I don’t like to keep all my eggs in one basket.

[Coin Gorilla]

Long-term it's a no-brainer for me, especially in the last 40-50 years.

Yes, there's has been shifts, but amidst everything, I think it's very resilient and one of the standard go-tos in these times.

[Argoo]

There is a lot of gold in the planet. The only problem is that only a very few deposits make financial sense for extraction. Other deposits are of low quality, and it costs more to exploit them compared to the potential returns. However, as the gold prices increase, many of these deposits may become financially viable. And another factor is the environmental damage. A large fraction of the gold output comes from regions such as Amazon rainforest. As countries implement more environmental friendly regulations, the output from these regions may decline. 

And there's even more gold in the space. One day someone will decide to get a golden asteroid to Earth and gold price will will fall really quickly. Fortunately bitcoin has no such backdoor at the moment. And fortunately gold price is not decisive for the world economy. It is just a familiar asset for investing.

Of course all metals will keep their importance in long term, but I think that more in an utilitarian sense than in financial.

It is hardly worth hoping that in the foreseeable future, humanity will be able to find in space and deliver to Earth a large amount of gold, and even more so, some kind of golden asteroid in such quantity that the price of this metal will fall sharply. Gold as a metal and jewelry will always have a high value, but a change in priority to other chemical elements or their compounds is quite possible. The periodic table continues to be replenished with more complex elements and they may turn out to be even more valuable than gold. But this is in a very distant future. So far away that it can be considered that nothing threatens gold as an eternal value.

[Bitcoin2009]

Gold is an investment that has been used for thousands of years and I'm sure it can last for thousands of years, everyone likes gold and makes the demand for gold continue to increase, it's only natural that gold is the best and ideal standard for setting prices, and for the long term I optimistic that the price of gold will continue to increase.

[Smartprofit]

I do not expect a significant increase in the price of gold in the near future. 

Gold is a conservative asset.  It is difficult to store, difficult to transport over long distances, and difficult to check for presence and authenticity.  Gold transactions usually require an intermediary (for example, in the form of a bank or a broker that has the appropriate government license). 

The presence of an intermediary means that any transaction with gold is accompanied by the payment of a rather large intermediary commission.  At the same time, gold is not only a precious metal, but also an industrial product (gold is used, in particular, in microelectronics). 

Therefore, the government does not benefit from a large increase in the price of gold (this can negatively affect industrial production and the development of the world economy). 

Therefore, I believe that in the coming years, the rise in the price of Bitcoin will outstrip the rise in the price of gold.

[summonerrk]

As fiat currencies dump, some countries are moving towards increasing the amount of gold they have in their reserves. More specifically some of them are dumping US dollar to replace it with gold. For example India recently bought 200 tonne of gold and there is rumors of more conversions happening. China has been doing something similar under the radar. So are others.

However, we haven't seen any significant changes in gold price yet to approve the above news.

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

This is an absolutely correct policy of avoiding the accumulation of capital in the country. The dollar is an unsecured piece of paper that has not been tied for a long time and is not secured by anything. Gold has always been and will be a valuable resource, as it was hundreds of years ago and will be in the future. I think that it should be kept in your investment portfolio.

[jokers10]

It is hardly worth hoping that in the foreseeable future, humanity will be able to find in space and deliver to Earth a large amount of gold, and even more so, some kind of golden asteroid in such quantity that the price of this metal will fall sharply. Gold as a metal and jewelry will always have a high value, but a change in priority to other chemical elements or their compounds is quite possible. The periodic table continues to be replenished with more complex elements and they may turn out to be even more valuable than gold. But this is in a very distant future. So far away that it can be considered that nothing threatens gold as an eternal value.

Well, it is hard to predict about technical development and when space mining will become a reality so I don't know if it can be possible in the nearest future. But if we talk about that gold will be as valuable as now then I'm not so sure as you: look, over 50% of demand of gold is on jewelry, main countries where golden jewelry is still popular are India and China (about a third part of entire market per each). So if someday Chinese and Indians will consider that gold is not so popular then all market will go down. Because just 25% of marker is on investors and less then 10% on industry. It is mainly a matter of vogue. Maybe it stay popular for centuries more and maybe something else will replace gold in a few years, hard to predict. But it is definitely not so imperishable as it seems.

[AnonBitCoiner]

Gold price is elevating day by day and saving money in form of gold is beneficial therefore everyone wants to buy it. But if a person wants more success and larger profit then bitcoin is also excellent saving strategy. The price of both gold and bitcoin fluctuates but gold will never end up because it is used and people save money in gold from centuries while most of the people do not thing bitcoin as a safe way may be because of little knowledge.

Gold and bitcoin both are valuable but people prefer bitcoin as it provides greater advantages and its price get better very quickly. Gold can reserve and one important thing about gold is that its price does not get in such a dip like that of bitcoin.

We cannot assume that what will be bitcoin in future but we have strong thoughts that gold will always persists as a beneficial way of saving and will save your money in more successful ways.

[jokers10]

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We cannot assume that what will be bitcoin in future but we have strong thoughts that gold will always persists as a beneficial way of saving and will save your money in more successful ways.

If you'll look into the history you'll find out that the same thoughts were about iron when it costed much more than gold several thousands years ago. Technologies development made it one of the most cheapest metals. Couple of centuries ago aluminium costed much more than gold and was very popular and aristocratic. Technologies development changed the situation in this case as well. Why are you so sure that technologies development is stopped and era of expensive gold will never end like eras of other expensive metals?

[Joshapat]

World millionaires who have billions of dollars of money will of course choose gold for investment, in my country when covid or 3 years ago there were rich people who bought about 2 tons of pure gold, and the price of gold has gone up more than 15% in 3 years so the money has increased by 15% Of course, gold is the safest and most promising investment for the long term.