Now that I got your attention! Okay it's predicting time again - I was dead wrong last year and silver gold did not correct, it will (at some point) it's the nature of the beast but what do you think it will do during this year - this ought to be fun. If you really do not think silver and gold can and may be traded again at $12 & $725 you are most likley dead wrong - I have turned it down at $2.90 and $300 in the not to distant past - don't expect those prices very soon but what do you think and the poll will have a built in type relation to answers. To set the record straight I have no gold or silver and could care less about it. I have nothing against it I just don't care to collect, store it. When I get a deal on silver (I never buy gold) I turn it as quick as possible. Give it your best shot and this time maybe we will remember who said what.
Well I was off on Ryans gold contest so I learned my lesson when guessing gold's future value. Since I collect gold/silver, I have to believe that it will continue to go up. Not in a straight line, but the generally in the longer term it will. It's funny, I just watched this CNBC clip on youtube where they interviewed an HSBC rep. who said that gold will fluctuate in the $950 - $1300 range for 2010. Right away, someone else interuppted him and mentioned that he's making up the gold's value out of thin air. To me, I thought that was kind of rude, you're interviewing someone who works at HSBC and watches this market for a living, you're not interviewing some amateur guy on youtube. Anyways, the rude interupter on the show's reasoning was that gold had no substance to it other than hoarding and fear of inflation, so he didn't believe in gold's price. But from my POV, it doesn't matter what he beleives, gold is hovering $1100 now and that's what people are paying for it. How come he's so against gold when it climbed from $288 in the year 2000 to $1100+ now in 2010? He seems like the same guy that if/when gold hits $2000, $3000 he'll still sit there and say, "nahh I don't beleive it..."
The rise in the price of commodities is a combination of inflation caused by runaway government spending, and investor loss of confidence in the dollar.(people are buying more metals as a hedge) As long as the Government continues to spend like there is no tomorrow, gold and silver will continue to go up. People don't trust a fiat currency. They trust tangible assets like bullion, food and bullets.
There'd be a lot more rich people than there actually is right now if it were possible to predict this with any certainty. In the long run it will probably go up. What it will be tomorrow, next week, next month, next year... it's anybody's guess. Not to belabor the obvious, but gold is an excellent long term investment but a terrible short term investment. If the economy stabilizes and interest rates drop, which it is bound to do eventually (million dollar question is when, not if; neither recessions nor expansions ever last forever) you can expect the price of gold to settle. But even when the economy recovers, people are going to be a little wary... so I wouldn't guess it would drop below $800 or $900 an ounce at the very least. It can't go up forever and to be honest I don't think this is a very good entry point if you're expecting to make a profit on gold in the short term. You don't buy gold to make money... you buy gold to keep the money you have protected against long term inflation. It's an excellent store of value but you shouldn't think of it as an "investment." Jim Cramer (host of Mad Money) wisely said the way you can tell when a stock (or anything else of value) is coming close to a peak is when nobody is telling you not to buy anymore. That means there's no more buyers left to bid the price any higher (because anybody who would ever buy already has), and eventually the price has to move back down. I think it's getting very close to that point with gold; it's probably going to peak very soon. Do I think it could ever be $725 again? Yes. Do I think it could ever reach $2000? Yes. It's just a question of when... and if I knew that, or anyone else did, there'd be a lot more rich people in the world.
Do you ever think it will be $12 and $725 again? I have thought about that and I think that it will not average that low again. But this does seem to be a time when strength is growing amongst people to put more and more faith in a currency based on PMs. However to see that actually happen may take a global revolution (note, revolution to me does not mean it must be violent conflict). Also with people turning to metals, there are inherent risks with an imbalance of investors in PMs, ETFs and such. There will come a time when big corrections will occur and many may get hurt not knowing when not to be so heavily in PMs. Do you think it will go up in price in 2010? (by years end) Do you think it will go down? (by years end) Yes, PMs will do both. They do so each and every moment the markets are open. These two questions need a basis point or projection of price to reply to any more specifically. Do you own and like owning silver and gold? Yes and Yes. There is no really wrong answer for this question as it's very subjective to the individual. But I don't know how anyone would explain their reasons if they answered Yes and No.
Yeah, what an idiot that interviewer is! "Gold has no substance..." true, but he should also remember this, neither does any government currency have, whether it is dollar, euro or pounds. They are all just symbols of power to purchase "substance". The question is which symbol you have more confidence in, I'd say, at this time, and I believe most of us will say, gold. Of course, none of these have any substance in a scenario of those disaster movies in which people fight to death for survival over some basic sustenance materials like barbarians, but it is highly unlikely for most of us in most times. Throughout thousands of years in history since the beginning of human civilization we have learned to trust gold and this trust has not waned a bit.
well the poll does not have a selection I would say. Silver will teeter, but will end the year somewhere in the range of 23.00 oz - 25.00 oz Gold will be back at or under $1000 per oz.
That's a key point. Confidence! I don't mind listening to arguments on both sides, in fact I think it's healthy and if you're honest with yourself, you will listen to both sides. I just hate when someone interrupts or speaks with such an arrogant voice, those are the types I tend to ignore... Gold has more substance than any fiat currency. There's actual labor involved. Unless you consider hitting the print button, labor!
When you combine the question about "ever" and "2010" it becomes a bit confusing. I don't think there is much of a chance for those prices to occur in 2010. The probability of higher gold and silver prices seems pretty high right now.
No expert here,but as long as middle class america is struggling to pay the bills then nobody has much faith in government currency,so alot of folks look to save a few dollars into something that will be of value no matter what,silver and gold fit that bill,anywhere in the world gold and silver is a recognized currency without thought to what country or government pressed it. Always has been always will be! As for your prices,yeah silver and gold could dip that low again,but it will cause more interest in buying,which will elevate the price back up quickly,on the whole though I'd say those prices are pretty much gone till this country of ours gets things straightened out,and the prices will still be creeping upwards for awhile.
I can see gold may go down as the dollar strengthens, but add one more catastrophy or major conflict, and it goes up, every time.
