Will Gold go over $1000 within 5 years ?

Bottom feeders feast on oil and gold.

 

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No ..gold will not hit $1,000.00 in the next 5 years. Looking at all of the economic indicators, I think it will take atleast 8-10 years for gold to get there. It might spike in the 8- low 900 range once in the next 5 years but it will not break the 1,000 barrier for 10.

 

I beg to differ, if there is even the smallest glitch in the economy then gold will skyrocket. Good thing I saved a few proofs to melt.

 

I just cashed out 25 ounces of uncirc eagles. Gold will be around $500-$550 by the end of the year. My advice is to get out while you can.

 

Please don't beg ..it's ok to be a doubting Thomas. The beauty of this game is that no one knows for sure, we can only guess. I seriously doubt that you will be melting your proofs in your lifetime. There are much better investments than gold to get a higher retuen in 5 years. It's fools gold if you are waiting around for 1,000 gold to cash in.

 

Ouch!

 

With mass inflation, core inflation and aggflation we should see gold continue to rise. This is simply a consolidation period and its very easy to see that. Demand for gold is at an all time high due to china so it may drop down to the mid 5oo's before making another run.. At the same time, any world event such as oil infastructure attack will send gold soaring as it has a tendency to move with oil...


Silver, golds cousin I also expect it to test last years highs and then some in 07.


but what the heck do I know.....


id personaly love to see 1000.00 gold.....

 

I think it will rise a bit, but not to over $900...

 

I beg to differ is a polite expression that means that I disagree. In 2001 I bought 10 Maple Leafs from Kitco for $270 apiece. I sold them for $285 and thought that I did good. Don't underestimate gold or the Ohio State Buckeyes. You just can't keep them down.

 

Would you care to explain that?

 

When I was in the stock market heavy and visited a lot of stock market forums. That is what a moderator told me.

 

Lost - Obviously your sense of humor was checked at the door. "Checked at the door" is a polite expression that means that you have none in this instance. I never underestimate gold and I don't give a hoot about the buckeyes. "Give a hoot" is a polite expression that means that I could care less. I'm glad that you were very happy with your $150.00 profit taking. Is that after taxes? You could have made more if you put your $2,700 in an INGDirect saving account for the past 6 years but that wouldn't be as fun as holding gold now would it.

 

I am going to try to the best of my ability to keep it clean. Don't take that attitude to Columbus, Ohio, you all! It would be a long row to hoe.

 

andrew and lost - check your bickering at the door or your posts will be removed!

 

Keep in mind that as gold increases in price from $300 to $600, as it has been doing over the past 5 years or so, expenditures by mining companies on gold exploration has been increasing accordingly. Gold deposits that were not economic 5 years ago are economic* today, and a great deal of effort is being applied to start production from these projects and increase reserves (in other words augment the mining plan to includes more oz of gold from areas not previously considered). Historically, exploration and exploitation of gold is slow at catching up to demand, such that demand and price remain high for awhile before supply can catch up. A gold mine can take more than 10 years from discovery to production.

In short, expect increased amounts of 'fresh' gold to enter the market within the next 5 years.

*'economic' includes factors such as gold grade of the rock, expense of the particular metallurgy involved in extraction, access to area, political risks within the host country, enviornmental restrictions, etc.

 

Satootoko - Please accept my apologies. I should have known better than to bicker with a midwesterner who is riding high from his $150.00 gold profit taking venture. With financial astuteness like that, I should have known that I would be out foxed. I'm sorry that i was drawn down to his level. I will take the high road from now on. I promise.

I will take my punishment like a man.

Lost - might I suggest a GPS.

 

The etc should include energy costs, which are a large factor in gold mining. As gold prices have doubled, so have energy costs.

 

Yes, and that increase in energy costs depends a great deal on the country. Doubling petrol to $5/gallon in the US makes a big difference in the US. It does not have the same effect on the mining cost structure of a country like Indonesia or Venezuela, the latter has a petrol price of about 15 cents a gallon and this price has not changed for many years. Obviously energy costs are more complex than just pump price, but it serves as a crude example.

 

http://www.goldsheetlinks.com/production.htm

Scroll to first bar chart. Production peaked in 2001 and is declining.

 

So [in effect] are you saying this new gold will keep the price down?