Will Gold go over $1000 within 5 years ?

Do you think that Gold goes above the $1000 mark sometime in the next 5 years ?

Thanks

 

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I would say morelikely touch $500 JMO

 

Inflation will continue to rise, but gold will retain the same value IMO. Of course because of rising inflation the dollar value of gold will go up, but it will still have about the same value.

 

Absolutely, positively without any shadow of a doubt!. :thumb:

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Unless, of course, it doesn't.

 

spock I hope youre kidding. I just dont see it dropping back down to $500. I have some and I want to sell it at $1000 within the next 5 years. Of coursethat will depend on the rate of inflation, but with everything going on I would expect 5 to 6 percent inflation or more. Minimum wage is getting ready to go up, gas prices, the cost of the war in iraq is outrageous. These will create inflation which should raise gold prices. Also, on an adjusted basis the current price of gold is still very low.

 

I can't see it hitting $1000 in 5 years.
We might see it near $870-$900 though.
Then it will drop back to the mid $600's.

I'm putting my crystal ball back away now.

 

Or I could pull mine out and make a prediction. Then everyone would know what NOT to do

 

It most likley will not go up that much. I'd be shocked at $900.

 

no way

 

well i told you what my crystal ball told me. I suggest we return in 5 years to see where gold is at?

 

Gold at $1000 would probably allow a "breakeven" sale against gold bought today, at least in small quantities.

Last time I looked, a one ounce gold coin was in the $800 range against a $680 or so price per ounce. Add in tax (for some "lucky" people) and/or shipping, and then figure that the buyback price will be somewhat under spot to allow for profit at resale, and $1000/ounce is probably about what you need. It's worse for smaller weight coins (1/2 ounce, 1/4 ounce, and, worst of all, 1/10 ounce) which carry sucessively higher overhead versus the actual gold content.

I am using a dull pencil on the back of a used envelope for the above, so a more scholarly answer may vary and perhaps prove me too pessimistic, which I would welcome.

 

Well that is a very intersting question? IMO I think gold will see $1000/oz and maybe more.
The economic conditions surrounding the dollar, our double deficit, war, inflation....the stage is set!

All the mining companies have to do is restrict production and let the dollar fall from grace. I for one am loaded with bullion, jr mining stocks, mutual funds and select stocks. If gold does get to that price or above..you guy's can count me out as retired!!

Good luck to you all....stash the gold in a place where you can put your hands on it...right next to your 9mm
Baretta!!

RickieB

 

By the end of the year gold might be $700.00 or a lettle less.

 

ummmtrr author,

Gold is $657 right now, you can easily get an american eagle at a local shop for less than $700. Even the Gold Buffalos are at $700 or a little higher. If anyone is paying $800 for a modern one ounce coin, they are getting taken hard. Also, buy it local and you arent paying taxes, shipping, insurance, etc. I am not buying a $675-$700 coin sight unseen anyway even with a picture that might or might not be the coin I actually recieve. For someone to buy an ounce today and the sell it for break even when the spot price is $1000 well they would have to be doing a lot wrong.

 

Rickie B,

The only one who agrees. I dont know but I bought some when it was in the $595-$625 range about 6 months ago and I already had some from a few years back in the $350 range. I just dont think its time to sell although it is tempting to take the profit. I just agree with ricky here, there are so many factors that make me think its still got a ways to go. Waiting until it approaches $1000 whcih I think it will in the next 4 or 5 years. Terrorism isn't going away anytime soon and I think the gas prices and the war which will not end for a long time are going to be super bad news for the economy and the dollar.

 

I believe gold will go up, then down, and up again, then down for a while, up again... well, you get the point.

 

Unfortunately, this is not true in my state. Alll coins are subject to sales tax, out of state purchases are legally subject to "use tax." (It's out of bounds of this forum to discuss whether laws are actually followed so I won't go there.)

 

I agree it isn't time to sell. What I'm doing is getting both bullion and a little of the old stuff.
Pre 1933 gold is what I like the best. I have to pay a little more for the older stuff, like 1854, 1881, 1899.
A thousand an ounce? Maybe not.
The Morgan mint had an ad in the newspaper for one tenth ounce AGE coins for $59.
When you called though they tried to sell quarter ounce gold eagles for $399.
But I did get two quarter ounce coins for $59.00 each.
Limit one per household. I got one and had my girlfriend get one for me. Now at $59 each that was a good buy. They are nice 2006 tenth ounce coins and not rejects. They even gave you a nice little case.
But to sell now I'd only make ten bucks each.
The key to gold as I see it; hold on to it for the long run.

 

I think that gold hit a very high price in the early eighties. Adjusted for inflation you could buy a fairly good used car today for the price of one ounce of gold back then. It was so bad that silver almost caught up with gold! Bring back Nixon and $4 wheat, my farmer buddy always used to say.

 

I think it's a very high probability bet that gold will go above $1000, and 5 years is a reasonable timeframe. Gold and silver are two of the few things that you can buy today for the same price as 25 years ago, and this circumstance most likely won't last.