What do you think of gold price in long term?

[Kadal Ijo]

I'm sure the price of Gold will continue to increase, as we know that Gold is the world's oldest investment, can be accepted anywhere and will never be abandoned, Gold has always been a measure of wealth because most people are rich in investment and hold gold.

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[Mauser]

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.    

[Cryptmuster]

Over the past couple of years there has been some rumors and evidences that could lead to the conclusion that countries (specially in the Eastern Bloc) are moving towards a commodity backed currency. One of those commodities is gold. There are some proposals and talks about using energy too. For example when you have the most gas and oil reserves in the world you could simply back your currency with that (essentially something like Petrodollar but for their respective currencies).

But in addition to owning resources, these countries must also be well developed economically and with a low level of corruption. In fact, countries that own large reserves of resources could already strengthen their currency, but this does not always happen and there are a lot of reasons for this. So tough manipulative management of currencies within the country will not be accepted by the world. These are complex economic processes and I am not sure that support of the currency by gas or oil will be accepted.

[justdimin]

I heard those rumors from China, and also about stopping paying for oil in dollars to pay in that supposed new Chinese currency, which could well be the CBDC. Searching the internet I see this:

Russia, China may be preparing new gold-backed currency, but expert assures US dollar 'safest' currency today

Whatever the expert says, as he will probably be biased, I will not comment on it.

One of the things I find interesting about gold is that it is very convenient for storing and transporting medium quantities. Bitcoin can be used for both medium and very large amounts. There is nothing better to transfer $1B quickly from NY to Warsaw for example. But having a few thousand $ in gold or even tens of thousands does not occupy, does not weigh much and you can carry it in a suitcase.

It is spending that brings the biggest difference between gold and crypto. That is why crypto is gold+fiat fused together at the same time. You invest into it for the long term to make money just like gold, but you spend it like fiat and buy anything from anyone all around the world at the same time like you are using fiat with paypal. That’s the greatest thing about crypto, plus it is decentralize which means there is no government at the top of it, and there is no company like paypal to tell you anything neither, you are free to use it however you want.

Basically, it’s the best of all worlds when it comes to it. Gold is fine and dandy, but not enough, you can't spend it that easily, it’s very hard.

[lizarder]

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.

Fiat currency is not able to protect value, so the countries you mentioned choose to buy gold as a reserve supply to store, fiat currency continues to lose value over time and is even worse when inflation or deflation occurs.

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

Although gold has not shown significant price changes, if explored further, gold can maintain value over time, thus storing gold is much better than fiat currency.

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.

Gold may not be able to raise high selling prices in the next few years, but gold's strength is much better in terms of holding assets, so the opportunity to move slowly is actually safer in maintaining value.
Long before countries used fiat currencies, gold and silver were the best way to suppress inflation and deflation, the glory of gold and silver can be found in various past histories and this may be part of the decisions taken by the countries you mention.

[jakdanyel]

Gold has been used as the safest investment tool for many years. People around the world are making most of their investments in gold. In the face of this trust, gold also gives its due.
Compared to Bitcoin, it is one step ahead again. Bitcoin is more profitable, of course, we make a profit faster. However, both in the short and long term, gold seems more reliable to people. Especially people who don't know much about bitcoin think that gold is better. As far as I'm concerned, bitcoin is one step ahead. I always invest most of my money in bitcoin.

[Poker Player]

At present there are too many investment choices so that people judge gold is a troublesome investment, it takes a safe place to store gold, if we save it in a bank or other service place, it certainly requires expensive and does not guarantee safe, but I'm sure that gold is still an option main investor.

Another thing that many people don't know is that gold trading commissions eat you up. If you buy $1k of gold today and go to sell it tomorrow to the same place, at most you're going to get $950. These commissions go down as you buy larger amounts but for the average person it only makes sense to buy it to keep it for a long time as a store of value and liquidity.

It is better to buy investment gold, bullions, than coins for example, and the last straw is for those who buy gold jewelry as an investment, because if you buy, for example, a gold bracelet worth $1k, you are being charged for having done it as costume jewelry. If you go the next day to sell it they will pay you the price of molten gold and I don't think it will be more than $250. Another thing is that you or your wife like to wear the jewelry.

But in short, if you want to buy gold, better bullion and better in the very long term.

[Zanab247]

I guess, there is a something special they saw ahead of gold price that made them to invested such amount of money on gold, because India investors are very good in long term trade. For them to purchased 200 tonne of gold in this bear season that is affecting both gold and crypto, show that gold price will break record next year or next two years by increasing to a level gold investors have never experience before since the creation of gold. If what gold researchers are saying in the community will happen in the future, show that India investors that invested a huge amount of money on gold will turn to billionaires in future.

[Kakmakr]

I have seen discussions where people were saying that Gold prices were being manipulated by Cartels and also Gold companies to keep it stable. The Oil companies are doing this with oil prices, so I guess Gold companies can do this with Gold too.... they just control the supply and the cartels do the rest.  

A lot of the Gold are held in reserve and only sold when the price is going up, so you do not have a pure "Supply & demand" market, where people are trading and the real "Supply & Demand" is determining the price.  

[Crypto Legend]

Gold certainly has good prospects in the future, everyone certainly agrees that Gold is the best investment and is a legal foreign exchange reserve and is accepted for all countries, gold has been used since humans know money, in the past money only came from gold and silver so that prices Any commodity is always calculated based on the price of gold.

[Sir Legend]

I think gold is the safest and most profitable type of investment, we can see the gold price chart and it can be said that the price of gold is almost the same in all countries, this proves that gold is the safest and most promising investment even though the annual price increase is not large.

And for the future I believe gold will always be the main choice of investors and prices will continue to rise and if we look at the chart the increase looks stable between 5% to 12%.

[Olivi5]

In long term gold will climb

[dezoel]

It is said that it was only a rumour so if there is no major price change then we can assume that the rumours are not true but despite of it I still think that the gold price in the future will increase continuously given that there are still more governments that will invest on it and made it as a reserve. There's also people who will do the same thing to protect their self from the crashing of the currencies but other than gold what about bitcoin?

I think there are already governments who make btc as their reserve but the only problem of using a btc is that it is more volatile than gold so there is a big risk but it's also possible for btc to recover, so why not?

[tygeade]

I have seen discussions where people were saying that Gold prices were being manipulated by Cartels and also Gold companies to keep it stable. The Oil companies are doing this with oil prices, so I guess Gold companies can do this with Gold too.... they just control the supply and the cartels do the rest.  

A lot of the Gold are held in reserve and only sold when the price is going up, so you do not have a pure "Supply & demand" market, where people are trading and the real "Supply & Demand" is determining the price.  

I am not sure if gold is the same as oil, I understand that gold could be manipulated to a point, but there are way too many gold in retail investors hands, which means they could somehow manage to get profit from the manipulation and big investors wouldn't want to lose money to retail investors.

On the other hand, you do not really have oil, you could invest into the price of of oil to a point but you wouldn't "have" it, you are not going to just buy a gallon of oil and put it on your safe, like you could do with gold. That is why there is a big difference on how they could be manipulated. Both could be manipulated, but gold can't be as much as oil can.

[Marvell1]

I heard those rumors from China, and also about stopping paying for oil in dollars to pay in that supposed new Chinese currency, which could well be the CBDC. Searching the internet I see this:

Russia, China may be preparing new gold-backed currency, but expert assures US dollar 'safest' currency today

Whatever the expert says, as he will probably be biased, I will not comment on it.

This has been going on for a long time, countries including Russia, China, India, South Africa, Brazil have established the BRICS bloc and they are using the currencies of these 4 countries for internal transactions in the bloc instead of using USD and it is known that they are also planning to create a new currency to completely replace USD in the future.

One of the things I find interesting about gold is that it is very convenient for storing and transporting medium quantities. Bitcoin can be used for both medium and very large amounts. There is nothing better to transfer $1B quickly from NY to Warsaw for example. But having a few thousand $ in gold or even tens of thousands does not occupy, does not weigh much and you can carry it in a suitcase.

What you say is not wrong, if using bitcoin to replace gold in the case of payment and storage, it will save a lot of time and costs. But with bitcoin's volatility, countries won't easily accept it as an alternative to gold. They are in need of a stable asset that does not depreciate and gold is a perfect choice in this case.

[Davidvictorson]

In my opinion, gold might see one of two long-term changes: it could increase by $30,000 or decrease to $50 or $100 per ounce. On the other hand, if we experience another severe slump in the long term—say, let's 8 years—gold prices may decline. It is based on supply and demand, though. Therefore, I doubt there will be any left to sell in 8 years, gold will be valuable, which should raise prices rather than lower them.

[Sayakaaja]

I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

The price of gold is always high, and maybe the price will always go up in the future.

[CageMabok]

I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

Paper money is ordinary money that can only be relied on to buy traditional necessities or necessities of life in cash in traditional markets, so obviously there is nothing else that can be relied on through paper money because its value will remain the same. As for Gold, its value always changes even though it's not so much size, so it's worth keeping or buying when it's cheap. and I think it's also almost the same as buying Bitcoin when the price is still cheap and selling it when the price is already at a high level, because it is an investment that is generally very often done by many people in the past and also today.

The price of gold is always high, and maybe the price will always go up in the future.

Gold will always have value and value in the eyes of society, because Gold has been considered a precious metal of high value. So it is very possible in the future the price will increase when the supply of Gold starts to run low in this world or when the amount of demand for Gold starts to increase.

[Fortify]

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.

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.

Unless some miracle new piece of engineering or technology comes out that relies on using up more of the limited golf supply, there is not really that much which will affect the price. In many richer countries the population is actually falling which could mean lower demand for things like gold jewelry. It will always retain some values as it has some rather unique and special metal properties which can have many useful applications.  At the end of the day though it is a non productive asset, when compared with something like company shares which can pay out a profit or reinvest them every year.

[Obari]

In my opinion, gold might see one of two long-term changes: it could increase by $30,000 or decrease to $50 or $100 per ounce. On the other hand, if we experience another severe slump in the long term—say, let's 8 years—gold prices may decline. It is based on supply and demand, though. Therefore, I doubt there will be any left to sell in 8 years, gold will be valuable, which should raise prices rather than lower them.

One of the factors that determine the prices of commodities is the demand and supply of that commodity which gold isn't exempted, with this your writing of gold been acquired hugely by china and china is one country I believe sees the future and for China to pick more Interest in gold, then I would advise people who have the funds to invest in gold. I believe in future, there might scarce supply of gold and a greater demand which will sprout the price increase of gold significantly.

For over years now, gold has barely dropped in price significantly if it has at all and it has a more store of value as one thing has been certain with gold, that if you buy gold today, one wouldn't sell it anything lesser than the bought price.