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<p>[QUOTE=&quot;gxseries, post: 121044, member: 4373&quot;]It&#039;s hard to predict - if you can, you should be a millionaire by now. You might be right that gold is probably a good time to cash in if you bought gold a few years back, but I am not going to necessary agree if you say it&#039;s a good time to buy. </p><p><br /></p><p>Remember back in the 1980, when the Soviets invaded Afganistan and held it&#039;s Olympics and the rest of the world boycotted, gold prices went to an extreme. It was coupled with fear of the cold war as well as the Soviets refusing to supply the rest of the world with her gold, and hence the insane prices. </p><p><br /></p><p>Right now, what is happening is that the Iraq war is causing people to hoard gold as well as casuing oil prices to soar. And when oil prices soar, what will hit first is transportation costs. And when that happens - where do you think gold is minted from? From your backyard and transported via public transportation? Very unlikely - mines consume way too much fuel. </p><p><br /></p><p>Another issue is the matter of gold reserves left in the mines - S. Africa last year announced that their mines might be running out and thus causing major panic. Fortunately, Australia right now is supplying the rest of the world. All you need is a major country to back off from the mining and that will cause a shock. Back in 1993 or so, when Russia first showed signs of economy troubles, world gold prices went a bit higher until 1997 when Russia finally reformed it&#039;s economic policies and stablized since then. </p><p><br /></p><p>But hey, if you are to check about gold prices history, such flucation existed thanks to President Reagan&#039;s policy as he realized this is the only way to finance the war against Vietnam. Now that the US is in a war with Iraq, claiming that the war has ZERO effect on gold prices is absoutely nonsense.[/QUOTE]</p><p><br /></p>

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