Discussion in 'Economics' started by jueco2005, Mar 3, 2011.
How high can gold get???
I remember when it was $35 an oz. so go figure.
The correct questions are: How many dollars can Bernanke print? How much debt can Congress create?
Answer those questions and you'll know how high gold can go.
Gold will NEVER sustain above $500 /oz. (Wall Street Journal - 2005)
Growing wealth in Asia and foreign Central Banks will keep the metal bid, as the world's reserve currency "rides off into the sunset".
In the seventies it started at 35 and ended at 150 on the first impulse up.
Second one ended at 850, famously, but more sustainably settled around 500 - 600 for a while.
Multiply by 10 and you get what we have today. I've always informally figured 1500 for the first bull, then a bear pause, then somewhere around 5000 on the next one.
Following the rule for gurus, I give no dates, having given prices.
It will bounce around and continuously increase (as inflation does inevitably). It really depends on the time frame as of how high will get.
Gold doesnt go up...it stays the same value. Only the dollar goes down against it.
Not true. The Dollar is the reserve currency of the world currently. Gold is valued in Dollars, not the other way around.
It is an asset class, just like housing, the stock market, bond market, corn, oil, etc all of which are valued in dollars.
I can buy more electronics, a bigger house, more clothes (all valued in dollars) than I could buy in 2007 right now, meanwhile gold has more than doubled in that same time frame.
With that said, I voted that it could go north of $3k because anything is possible. It is also possible that it could go back to $300/oz when we least expect it.
Its going going and will continue to go because the smart money is not fooled by the Idiots, the Stock market or the Pundits.
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