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Here is a chart showing gold prices the last five years:

post-1-0-75438500-1431782059_thumb.jpg

Note that we are pretty much where we were with gold prices five years ago. From this perspective it looks like we lived through a gold bubble that saw prices nearly reaching $2000 an ounce.

Many gold bugs have lost the faith, but some, like Peter Schiff, are still calling for $3000 and even $5000 gold. What do you think? Has gold settled into a reasonable supply and demand range after flirting with higher prices? Or is this just a pause setting the stage for dramatically higher prices in the future?

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 I dunno. Technical charting doesn't mean as much in such a highly manipulated market. A key prop for this wobbly house of cards called the "economy" is to try to maintain "good faith and credit" of the American dollar. That won't happen if gold looks like a better bet than the dollar.

That being said, This administration has P.O.ed enough of the rest of the world and ruined a lot of the respect (earned or forced) we once had as a nation, things could (will?) change suddenly- and it won't be pretty.

 Gold is the only physical possession that I know of that, in all of history, has never become suddenly totally worthless. But of course that could happen.

 

 "Store up your treasures in heaven"

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I have to agree, we have PO the rest of the world and will continue to do so because we want to maintain a supremacy over everyone. But although small but noteworthy changes in economic business and trade among large nations such as India, China and Russia in currency, along with BRIC nations creating what i would term an alternate to the World Bank and IMF we will see those countries and many others go away from the dollar. India and China being mass hoarders of gold and Russia also stock piling it away we will see gold rise in the near future. The only thing that will stop or slow down the rest of the world is war. So Gold wins no matter what....

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I never put much faith in tech analysis for gold and silver prices.  I've lost a bunch playing gold and silver but I also made some.  Probably a wash.  Gold is dependent on jewelry when it's not dependent on hedges for world problems and inflation hedging.  when both are in your favor you will kill it, when both go against you you will get killed.  Predicting this is like ready tea leaves most times.  I'll stick with silver.

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120 trillion in debt aint goin away EVER! the party is soon going to be over , total collapse of the dollar, then we will see who really had money and who was just putting on a show! im betting on at least 6000.00 dolar an ounce gold by 2016, the question no one seems to be able to answer is what will 6000.00 buy you if there is in fact anything left to buy at that point!

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You can thank the Feds and their QE programs for the bump in PMs. Now that all the other countries are doing their own QE, we're almost back to dollar parity. Hard to peg gold since it's so manipulated. Same goes for the equity and forex markets. Once the Feds got involved, all bets are off on any price discovery. Best to just find as much gold as you possibly can and sit on it. Once the Feds lose control of the financial markets (and they eventually will) then gold will hit the stratosphere.

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The price chart over here in OZ is much flatter, gold now is still over OZ$1500 /ounce. Seems our dollar goes down when yours goes up, and vice-versa. Gold price seems to be tied to the US economy, personally I think looking at the democratic countries we are all in massive debt that will only grow. Seems that the removal of currency being tied to gold back in the early 70`s was a crazy mistake. But good for us (think it was $65 US/ounce back then) because since then long term it has only gone up, cannot see that changing.

 

Not sure gold could be classed with other supply and demand commodities, as demand varies with US$ vs other countries $, ie  your $ goes down up goes gold because we hoard it again in fear of the collapse that "must come". I guess that saying the "US sneezes the rest of the world catches the flu", has a lot of truth. I just hope the US economy doesn`t totally collapse, because that will be the end of the relative world peace we enjoy.

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I just hope the US economy doesn`t totally collapse, because that will be the end of the relative world peace we enjoy." That's a very good point, but our thirst for world hegemony and pushing China for example in their region of influence ( China Sea ) and NATO pushing Eastward and disregarding Russia s security zone and concern will only push those two closer to counter the U.S. I would hope economics will continue to tie us with China where it would not be in their interest to have a conflict with us. I don't see gold going below 700.00 for the fact most gold mines around the world spend that amount if not more on extracting an ounce from the earth and in S. Africa costs exceed the 700 range.

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