Gold Price Expected To Rise Significantly Soon

[Steve Herschbach]

Gold hit its current level over ten years ago, and with ups and downs, mostly downs, has basically traveled sideways for a decade. That’s hardly “keeping up with inflation”. It appears to me to simply be another commodity at this point, with a price that generally settles around US$1700. I’m not holding my breath for it to do anything more than continue to bounce up and down around that number.

[geof_junk]

The stuff  (Fiat Money) you get for selling it is doing no better.

[Steve Herschbach]

Depends which fiat money you are trading in. There is no such thing as money really. It’s just a human construct - nothing more than a mutually agreed on medium of exchange. It’s only one step removed from direct barter; a counting system for storing the value of labor for later use. If we are both starving, you can have your gold… I’ll take the potato’s!

That said, anyone who thinks fiat money is not real can send theirs to me. 

[GhostMiner]

5 hours ago, Steve Herschbach said:

Depends which fiat money you are trading in. There is no such thing as money really. It’s just a human construct - nothing more than a mutually agreed on medium of exchange. It’s only one step removed from direct barter; a counting system for storing the value of labor for later use. If we are both starving, you can have your gold… I’ll take the potato’s!

That said, anyone who thinks fiat money is not real can send theirs to me. 

Fiat currency backed only by the the issuer's word & promise. Before 1971 The U.S. Dollar was backed by gold. Nixon took us off that standard in order to issue the beginning of massive debt which is now beyond belief. It will never be paid. As the attempt to raise rates continues in order to conatin inflation the system will begin to collapse as it always does & the Fed will be forced to cut rates to zero once again and the dolar will continue to buy less and less evry year. A very bad scenario is beginning to set up for the coming years. 

[jasong]

Gold production still near all time highs plus the world's largest gold/copper mine (Oyu Tolgoi) about to open up, so lots of supply. Demand for gold jewelry going down as other metals come into popularity. Investments in gold is also decreasing both in banking and individual investors as more investment options are created - why own gold when you can own a mining ETF and diversify? Maybe some people put some of that money towards Bitcoin or real estate now, or other potential inflation hedges? And then we have Russia and China both possessing tons of gold to pivot from the dollar, and it's in the best interest of the West to make sure those holdings don't skyrocket in value and fund aggressions. 

Those are some of the major factors affecting downward prices near as I can tell, but man who knows the days. 

[oneguy]

7 hours ago, Steve Herschbach said:

 If we are both starving, you can have your gold… I’ll take the potato’s!

agreed... if things get REAL ugly what's important will be guns, ammo, firewood and food.

[oneguy]

7 hours ago, Steve Herschbach said:

 

That said, anyone who thinks fiat money is not real can send theirs to me. 

Fiat will work until it quits working... and it will.  When...who knows?

[GhostMiner]

1 hour ago, jasong said:

Gold production still near all time highs plus the world's largest gold/copper mine (Oyu Tolgoi) about to open up, so lots of supply. Demand for gold jewelry going down as other metals come into popularity. Investments in gold is also decreasing both in banking and individual investors as more investment options are created - why own gold when you can own a mining ETF and diversify? Maybe some people put some of that money towards Bitcoin or real estate now, or other potential inflation hedges? And then we have Russia and China both possessing tons of gold to pivot from the dollar, and it's in the best interest of the West to make sure those holdings don't skyrocket in value and fund aggressions. 

Those are some of the major factors affecting downward prices near as I can tell, but man who knows the days. 

One of the main reasons id Fed tightening with higher interest rates and removing liquidity from markets. This will end early next year & gold will march higher. Each low in gold is a higher low now. Mining ETF's are horrible because miners constantly dilute shares to raise capital. They have been cut in half just in the last few years. I will take gold long term over anything else. Period.

[oneguy]

All I can say is my bullion cost average is $1160/ozt.  The gold has done exactly what it's expected to do over time...inflation hedge and preservation of wealth.

Also a comment on what Clay Diggins posted on dealers paying a premium OVER spot, that's also what I saw last I checked.  I buy Canadian Maple Leafs from Provident Metals and see that most all the 1ozt coins from most the sources are currently out of stock?  Also sometimes buy from Golden State Mint and their supply is down, and they mint the stuff!  Been 4-5 weeks since I checked but it appears more demand than supply as far as us retail buyers...????