What are your thoughts regarding the reports of gold hitting 3-5K p/oz by 2019?

ClamjuiceClamjuice Posts: 1 Tin ✭
See the question.

Answers

  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    Same thoughts I had in the past 10+ years. If the economy crashes and/or they lose control of the manipulation, gold and silver go up. If not, it all remains the same and we sit on it until it happens.
  • IrishGuyIrishGuy Posts: 132 Bronze ✭✭✭
    edited October 4
    @Clamjuice @Marco_1983
    I always like the way Jim Rickards thinks about it.
    An oz of gold is an oz of gold and does not change. The dollar changes or devalues against Gold
    What could make that happen?
    As Marco_1983 states - stock market crash that has FED doing more QE
    Dendollarizationn continues - Saudis/OPEC start using the Chinese gold back yuan for oil sales

    Trade wars with China or kinetic wars with North Korea.
    US Bonds crash. Municipal like PUerto rico, student loan debt, car loan debt etc.,
    There is a big list that is all negative in the years ahead.
    I am from Euro area.
    Europe disintegrates and Euro collapses. Chinese devalue after their congress. Either could drive dollar higher short term.
    I think the FED would talk dollar back down/ devalue it.

    Note: USD could surge one last time in the near term and gold drop possibly I think if the FED wanted as there are never enough dollars to pay the debt and they decide not to do QE after next market collapse/ try protect the dollar.
    Who can predict the craziness of the central banks/ markets and the financial hurricanes that they could unleash. A solid foundation of physical gold and silver is the best protection again that IMO.

    The reason I buy gold is and why I think Russia, Turkey, China and other central banks are buying it , Germany requesting some of their Gold back is a transition away from the USD being the reserve currency over time and in next 15-20 years when I retire I get to keep what I own with an asset that has proven in history to get me from this currency system to the next.
    It is not about profit - doubling or tripling my investment but building up my wealth slow and steady over time for retirement.
  • RocketDogRocketDog Posts: 459 Bronze ✭✭✭
    I am right with you @IrishGuy. I may end up being a mini-Queen Midas, or a silly gardener depending on the timing, manipulations, fraud, games, and obfuscations produced by government/finacial sector, but the fundamental logic for holding gold/silver is sound. That is the hard part. When will it pay off? I have missed out all of the stock market growth of the past 10 years because I don't trust it, and think it is a speculative bubble. But most people have made real good money off of it. So I don't try to argue it. I just tell people my logic and say it works for me, it helps me sleep at night. I am not trying to "make money" off my money, just trying to preserve the value that I earned from my labor and trying to save it for the future. It makes sense that this house of cards will crumble, and gold/silver will go up. But it has been forestalled for more than an average person's lifetime. And it may surpass our lifetimes. And you can't take the gold with you. It is a very difficult dilemma, unless you are firm in your fundamental conviction. Maybe it won't go to $3k, $5k or $10k in my lifetime, but maybe it won't drop back down to $400 either. It would be nice to think I could get rich off of it, but I have been noticing that worrying about my gold value is taking time away from living my life. I think that is a fundamental pitfall of chasing gold. I am going to try to set some goals and then ignore it for a while.
  • tomartotomarto Posts: 102 Copper ✭✭
    1 global stock markets are going to implode ....we know that..
    2 Deutsche Bank's $75 Trillion In Derivatives Is 20 Times Greater Than German GDP[ think of this as bank debt ]
    http://www.zerohedge.com/news/2014-04-28/elephant-room-deutsche-banks-75-trillion-derivatives-20-times-greater-german-gdp
    .....will cause domino-like collapse of European banks.
    3 when 1 and 2 go belly up gold will be safe haven .... gold will be $10000 oz


    also note:
    Russia Buying Gold at Record Speed - no slow down
    https://goldsilver.com/blog/russia-buying-gold-at-record-pace/

    Turkey on a Gold Buying Spree
    https://schiffgold.com/key-gold-news/turkey-gold-buying-spree/
  • Midas65Midas65 Posts: 10 Tin ✭
    I would have never thought it, but this Bitcoin craziness has reminded me that over a long enough time, the world is a very volatile place, so yes, it is not foolish to think gold could go to $4000-$7000. When I was 16, five year mortgage rates in Canada were 21%, so volatility rules. Remember, if wealthy people ever feel the need to own gold, supply will dry up in 2 weeks, and none can be printed or created. there will be no gold ICOs, people will want ownership of physical metal. If gold were divided equally among every man, woman and child on earth, there would be around 25 grams/person, LESS than one ounce.....and 20% of all gold is held by central banks and the IMF.
  • tomartotomarto Posts: 102 Copper ✭✭
    kitco

    10000$ Man.... ......Jim Rickards
  • tomartotomarto Posts: 102 Copper ✭✭
    Gold should be up at least in the $2,000 range,

    Don Coxe, veteran investor
  • tomartotomarto Posts: 102 Copper ✭✭
    Central banks bought more gold in the last couple of years than they bought U.S. treasuries


    The reason to be in gold is gouerment debasement of money...
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