Do you think the price of gold will ever reach down to 1100-1300 USD?

The financial crises of 2007-08 caused the price of gold to reach a record just before the year 2012. Some few years later the bank of Cyprus decided to sell their gold which caused the big fall in 2013.

Between 2014-2019 the goldprice was stabile where 1 Oz was about 1100-1300 USD. Then it took a little jump, but after the Covid-19 struck the price soared and reached the record of over 2000 USD.

However after the program of vaccinations, and a belief in a somehow normal future, the price is falling again. Today it is 1725 USD.

I want to ask you: Do you think that the price of gold will ever reach to the standard as between the timeline 2014-2019 when the price of 1 Oz was about 1100-1300 USD?

Do you think goldprice will ever hit 1100-1300 USD or close to in the future?

Try to explain why yes or no.

I try to create a poll.

 

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And my personal view is that I don't know and have no opinion to it.

I think gold is a bad investment and I don't deal with it, as stocks and bonds (and house) are better investments overall if you have a stabile income.

 

Yes, I think it will go down. Maybe even to 1100-1300 but I don't think that'll happen for at least 8-10 years. The reason I don't think it'll go that low right now is because covid-19 has kicked all economies to pieces which in turn made the price of gold bullish as ever. Sure gold is down to $1725 but that ain't nothin' and I think it's gonna go right back up! Covid-19 is not done damaging our economy or killing people so as long as were dealing with that, I'm not worried!

 

Maybe. I know that's not an answer. The long term trend of all assets in an intentionally inflation based fiat currency is up. So that is the strong headwind. I am somewhat convincing myself $1400 might be the "right" price for gold long term, (meaning its what it should be worth today, and should slowly appreciate from there). Below $1400 I would become a buyer again of bullion, (I still buy gold coins I like).

However, the strong tailwind would be how many trillions Washington is printing right now, and want to print shortly. That simply devalues the dollar, and makes it SEEM PM goes up, when in reality it is our currency going down. I said "maybe" because if this continues the devaluation of the USD will prevent it ever getting that low again.

 

Gold is a lousy investment. Treat gold like "wealth insurance" because that is all it is. Frankly the value of gold doesn't fluctuate - the value of our currency etc vs. gold is what fluctuates.

The dollar goes up and down like a teeter totter but the overall trend long term vs gold is down, down down.

 

it probably will get down there again. Anyone who thinks they're smart for investing in nothing but PM and croaking about the world ending isn't too smart. There's a lot of hype and dumbassery in the bullion world (mostly the small time buyers)

 

You just never know what the pm's will do so I'll just wait and see.

 

it's not that simple, and this is case in point to what I wrote above

 

put everything you own into gold. you prove it

 

There are lots of variables at play: BitCoin....rising inflation....commodity shortages.....currency debasements.

I would lean towards NO as far as going down to the average of $1,200 that your range indicates. If it didn't happen with BitCoin going up 12-fold in a year and a 34% drop in asset prices within a month....then it PROBABLY won't happen in the future.

If central banks or government officials ever take aim at BitCoin, that will cause gold to jump 10-15% in a few days.

If gold does go down 30% from current levels, I just hope I have some $$$ to buy some of my favorite gold coins.

 

where do you keep your life savings?

 

I think there's a good chance it will go back below $1300 in nominal dollars. I think there's a very good chance it'll go back below $1300 in 2021 dollars, even if the eternally-forecast high inflation finally does kick in.

And for everyone who says "gold doesn't fluctuate, the dollar does": I didn't see my bread and milk and electricity and gas all costing 30% less two years ago, then almost 20% more ten months ago.

 

I dont see Gold going below $1400. I dont know about others but silver and gold are a very small part of my investments - i have much much more in 401K and Stocks and my home. However even though it is a small part.. it is the one that gives me a warm blanket feeling (my home does as well).

I might say its more like emergency savings - preservation- than some big investment vehicle.

 

Probably will, but not today.

 

Not for at least 4 years

 

I voted NO. I would hope so, but it is highly unlikely in the foreseeable future. The economy alone can not allow it any time soon, for sure!