Well, a hundred years ago they would have never conceived of gold being used to reflect heat and the sun's rays for satellites and elements of the space station. There is no telling what metals will be used for in 50 or even 20 years. But, the problem is that if something becomes too expensive, they they find cheaper substitutes. Oil was $149 in 2009? and then the West started drilling holes everywhere they could fit a drill bit. Now, there are more known oil reserves in the world than we have ever had and electric cars are well on their way to being a common site on the roads, taking sales away from gas cars. And as a result oil prices have plunged. It would be fun to consider as long as I am in on the beginning and not the end when there is a bust like in July 2009.......... If I was and I could have potentially made as much money as could have been made when silver rose to 50 bucks in 1980 or oil was 149 on 2 July 2009, I really would not care how much gas was at the gas pump..... I guess the best potential for gold is if a nation ever instituted a gold backed currency like many people talk about. If the U.S. ever did this with our national debt, an ounce of gold would be something outrageous like 50k. It won't happen though. But as long as I can get in on it the day before the news breaks..........go for it.....
Right, but if gold was $50K/Ounce, believe me they would have already had space flights to corral asteroids rich in metals and found a way to mine it, either in space or bring it back to earth. Another place where gold is probably plentiful is in supernova remnants. But the closest (thankfully) one of those to us is many light years away. That is just your analogy with oil but substituting going to where the gold is plentiful.
I remember owning a good chunk of commodities at the 2007/2008 and 2010/2011 peaks and having certain conversations with my wife about gas prices. She would complain about gas prices continually going up and I would have to explain how prices of gas and everything else going up was effecting our investments. After that, she would come home from work with a big smile on her face..."gas is up again!". Losing hundreds of dollars isn't so bad when you're making thousands of dollars! P.S. I'm ready for it again. Good luck guys!!!