You think gold will surpass $2,000 by December 2020?

What do you think? We're almost all on lock down per this Covid-19 and gold has been hovering over $1,700 an ounce. As you can see by the prices on ebay the auctions are paying pretty well. Let me ask my question a different way. What month do you think gold will hit $2,000 an ounce??? All comments are good, as this is only being posted for discussion.

 

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Depends how long this crisis will last. It does seem likely, with the intense panic still going on, but I don't want to speculate.
Whenever some uncertainty is in the air, people run to buy gold. I wouldn't be surprised if it hits $1,750 by the end of this month.

 

This is only one scenario of many: As investors return to stocks, which they will, they will reduce their gold holdings, which have served as a parking place for cash, thus putting downward pressure on gold prices.

 

As long as it doesn't dip below $1100/ounce I'm OK!
Stocks, goldbugs, silverbugs, etc. be what may.
J.T.

 

Another scenario: No matter what the stock market does, a boost of inflation resulting from the trillions pumped in by Washington puts upward pressure on gold prices.

 

I could see it above $2,000 even before then. Maybe in a few weeks/months. But certainly before the spring coin shows in 2021.

 

Maybe...you could also have some inflationary or deflationary forces that lead to a nation or two going on a gold-buying spree.

 

Physical or spot?

 

Well that all depends. The virus stimulus will add to inflation and gold responds by going higher. Once this crisis is over money will return to the stock market.

It all depends on what takes place and when.

 

I think I see it, but not for a bit. I think the whole world needs to recover, people have some disposable income again, see how many trillions the USA printed, and weaken the USD. I am thinking 2022 or so.

Not sure enough of the scenario to pay today's premiums though. Maybe if premiums deflate I might buy a little, but I bought quite a bit the last few years when no one wanted it and prices were depressed. I always want to buy "on sale" when assets are unattractive to others. Tell you what, though, get me silver prices near $50 again and I am lightening my safe of its overflowing contents. Need more room for coins and not junk silver.

 

Yes but it's a bit more than uncertainty. Our world as we knew it is going to be completely different and most stocks are going to take awhile to breathe confidence again. Financially speaking, we are in a world of hurt and everything is going to take awhile, that is a true breeding ground for buying gold. May be sad because of all the sickness and death but it is what it is.

 

There’s a good chance it’s not going to weaken from that, one thing people need to remember is that most (if not all) of the modernized world is doing the same right now. Cancels each other out when everyone does it

 

why what happens if it dips? your 3 measly ounces take a hit?

 

No

 

Hi FryDaddy,
If 25.577 ounces takes a hit!
Not a huge Ouch, but an ouch all the same.
J.T.

 

Yes and no. Right now the USD is the safe haven in the world. Once the panic subsides, I think many positions will move out of the USD to other currencies, weakening it, leading to a rise in PM which is priced in USD. To us it would appear a price increase, just like to us we wonder why it hasn't gone up much now, when in fact to others in other currencies it has gone up significantly.

 

The all time high was 9 years ago $1,917.90.
So it will have to pass a number of resistance points before it goes to $2000.
When and if it passes $2000 it will be more because of inflation than any
consumer or manufacturing demand. We don't really need gold for anything.
Since matter can neither be created nor destroyed, old gold can continue to be melted down to make "new" gold. Jewelry, coins, scrap.
Besides, they are still mining like crazy and digging up more and more gold. The price "should" go down. (If there wasn't inflation).

 

You keep junk silver in a safe? Wow, you must either have a lot of space in that safe or a lot of junk silver - or some combination of the two. Heck, mine is just sitting in a drawer. Somebody wants it that badly. well good luck to ya'. At $240 a pound I think I can risk a bit of it scattered about. I bought a couple of rolls of old silver dimes the other day because I saw a comment that made a lot of sense - at $1 and some change each a few if them would make convenient barter if I ever need a loaf of bread or a dozen eggs. I sure wouldn't bother to put those in my safe deposit box. Haha.

 

So, question here. Isn't the demand in Asia and India a major factor in world gold prices - more so than US demand? I thought that was the case. Selling it on occasion myself I notice buyers are often Indian or Asian and they intend to send it home to their families. Maybe that's only empirical evidence - but I thought I originally learned that somewhere else. Yes?

 

no one wants your stinking silver if there's a food shortage.