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

True, but cash costs have been dropping.

But mine supply doesn't affect prices in the short-term; central bank buying/selling, institutional buying/selling, interest rates, other "safe" assets -- they determine the price.

I still think gold goes higher, especially if BitCoin keeps hitting speed bumps.

 

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Everything is in a slump right now, and thats the best time to buy be it stocks.
BTC or PM,s doest make any sense to buy when its going up...LOL

 

Yeah, because the problem is, you can't tell when it's GOING up, only when it's GONE up. If you could, it would make sense to buy when it's going up (so you can sell later when it's higher), and sell when it's going down (so you can buy later when it's lower).

The other problem, though, is that you can't tell whether a slump is going to turn out to be a short-term dip, or the start of a long-term slide.

 

Anybody’s best guess...LOL

 

No one really knows. BUT, the reason we invest in gold and silver, is because of coming inflation! And boy is it ever here! Both have a pretty good premium, and probably will for a while!
The good news is, it can’t be printed - there will always be a limited supply.
Just be mindful of what you can afford!
And gold and silver comes in many shapes and forms besides coins!
Enjoy!

 

Um, give me oil and I can mine gold and silver. Gold and silver have always been proxies for the cost of the oil to extract them long term. PM is not fixed at all, how many millions of ounces of new production are mined each year?

Yeah, it cannot be increased as quickly as fiat, but never believe the amount of PM is truly fixed. Put gold at $5000 and ounce for a few years and see how many millions and millions of more ounces hit the market.

 

To answer the original question in this old thread,

YES. A (hopefully) long time from now, when the currency is eventually re-valued.

I firmly believe that there is no going back to how things were pre-2020; The oft-mentioned "return to normal" has been off the table for a while.

That is not to say metals will only go up from here. But I don't expect to hit the lows of a few years ago.

I'd like to be wrong.

 

Well, that is the luxury good paradox. That is a special case. I would view pm driving this FOMO for a bit, that is what is driving current premiums just like 2011, then it will get "boring" again.

Sorry, but the imminent demise of the USD has been boldly predicted over and over by those in this hobby the last 40 years. Even a broken clock is right more often than that.

There has to be a medium of exchange. PM is not, its a commodity like oil. Please name a more attractive medium of exchange that can be used. Remember, the USD are treasury bills and note, not currency. Currency comprises like 1/10th of 1% of USD in existence. Yuan? Euro?

 

I sure hope I live long enough to see $1100 -$1300 gold. - Edited -

 

I mean technically it is kind of fixed if the earth ran out which it wont. Even then that would only be until asteroid mining started in which case there's an infinite supply lol

Probably even longer than that and if the dollar fails gold really isnt going to help when you get murdered in the chaos that erupts in cities

 

Fair point. I considered it, but humans have not mined a large percentage of gold on earth yet. If we had already mined 50% it would be more of a concern.

I am on record here repeatedly saying PMs long term price is up due to it being measured against an intentionally depreciating currency. Currency is not the way you are supposed to hold USD if you wish to hold them, they should be in treasury instruments that bear interest. Therefor, every year you have more of them, so you net buying power is roughly equal over time. Same for pm, buying power should be roughly equal over time. So, I know the long term trend has to be higher, but I am just saying there are billions of variables at play here, I am not smart enough to know what will happen, but at least some scenarios would lead to $1100-1300 gold 5 years out. Maybe not a majority, but some, so therefore I simply would not say it cannot happen. It could, just not likely and less likely each year.

 

I remember when it was only $300. Sadly, that will likely never happen again.

 

But what was the price of a house then in your city? Would you regret buying a house instead of gold at the time?

Humans are weird, (myself included). We judge number changes in isolation, not fully comprehending what everything else then cost versus today. My PM holdings back then were not enough to worry about, but if they were I can almost guarantee you I wish I bought a nice rental house versus gold then when considering both rental income over the years in addition to price appreciation. I could have bought duplexes in Des Moines for $60k when gold was $300. I wish I had the last 25 years of rental income on top of the price appreciation up to $230k today. Same with farmland that was $500 an acre then and today $6k an acre, plus 25 years of rents.

 

You already sold it to pay rent

 

Excellent point.

 

If you want to be comfortable you must have diversity gold and silver are not all or nothing. It's only part of your portfolio. For goodness sake buy some gold or silver even small amounts on a regular basis then decide at what price you will sell. The other alternative is just to talk about it and never buy a thing.imoa

 

The Financial Crisis didn't cause the rise in gold, it was 3 years LATER and it was the European Debt Crisis and the (bogus) downgrade of the U.S. debt by S&P.

Cyprus's gold sales = Nothingburger.

Anything is POSSIBLE but I think it is highly unlikely.

If you tell me the price of gold is moving another $700 I am going to say it is UP and not DOWN.

All other things equal -- and they rarely are, I grant you -- but if gold is ~ $1,200/oz. and the rest of the financial markets are OK then I would be buying the s*** out of gold bullion, Saints, and numismatics.

 

No. Every year the dollar is worth less and less. The only way I can imagine gold dropping that much is a HUGE new supply source. Like a giant gold vein or cost effective asteroid mining or something like that.

If you think about it 100 years ago gold was $20.67 per ounce. Today silver is more than that per ounce. Who knows 100 years from now silver might be $1950/oz.