Discussion in 'Metal Futures' started by jueco2005, Aug 13, 2009.
Will Gold appreciate or depreciate in the next 5??
Gold will always be appreciated, regardless of its price.
Do you think the central bankers will create more money and credit faster than miners dig ounces of gold?
If so, there will be additional pressure on the price to rise.
The amount mined annually is only about USD 70B at current prices.
Thats total world annual production...
Just the boys in Washington alone are creating money at 20 times that rate. I shudder to think how much money and credit all the central banks combined are creating on an annual basis these days. It has to be an absolutely horrifying number.
A good 5 year target would be $3000 per oz, I think, but if this gets wild $10,000 per oz wouldn't surprise me.
Its really a fast moving target with all the central banks printing money like madmen.
As long as there are fiat monetary systems, precious metals will appreciate. Please take a look at a 30 or 50 year chart trend line.
For younger folks out there, expect 10,000 per ounce in your lifetime.
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