What do you think of gold price in long term? - page 7.

KennyR

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Quote from: sulendra12 on November 05, 2022, 06:00:52 PM

Most of the elderly people believe that gold is a great source of investment for long term especially so they can inherit the wealth to their kids in the future when they gone. I do invest on gold although not that much for that thought as well, having a backup of your finance is really great and gold is one of them because gold is one of the investment method that is actually profitable in long run and it will survive until the end.

Also huge 2% pump in just a day is quite nice for those holders on gold.

Same as that we have cryptocurrency, it was gold during their days. Many have turned rich out of gold investment and that makes it a more trusted investment than other forms of investment. The growth is sure, but it won't give big profit same as we experience with cryptocurrencies.

It gets importance because of its wide acceptance. In emergency if we don't have money we can just provide it as collateral and receive money all around the world.

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Quote from: sulendra12 on November 05, 2022, 06:00:52 PM

Most of the elderly people believe that gold is a great source of investment for long term especially so they can inherit the wealth to their kids in the future when they gone. I do invest on gold although not that much for that thought as well, having a backup of your finance is really great and gold is one of them because gold is one of the investment method that is actually profitable in long run and it will survive until the end.

Also huge 2% pump in just a day is quite nice for those holders on gold.

what i do like about gold is that this market has long been established since mankind exist on earth. it is one of the oldest precious metals that humans identified as valuable asset. and up until today, it is a valuable tangible asset that you can hold at any type of crisis. since the supply is getting scarcer everyday, its value will increase in the coming years. so for me, if you have the means, you can always buy and increase your gold holdings.

sulendra12

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Most of the elderly people believe that gold is a great source of investment for long term especially so they can inherit the wealth to their kids in the future when they gone. I do invest on gold although not that much for that thought as well, having a backup of your finance is really great and gold is one of them because gold is one of the investment method that is actually profitable in long run and it will survive until the end.

Also huge 2% pump in just a day is quite nice for those holders on gold.

Ozero

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Quote from: eightdots on October 27, 2022, 08:37:14 AM

I think that the time of gold has passed long ago and it is no longer necessary to use it as an investment tool. As in the example I quoted, I do not find it right for central banks to invest in gold anymore. They must keep up with innovations. Even when we look at it as a boiler, gold could not exceed a certain rate. I don't see people around me investing in gold. Everyone is looking for innovation and more profit now. You can say that gold is a guaranteed investment, but at what rate will it be able to withstand inflation?

Despite the pessimism of some participants in this forum regarding gold, gold has been, is and will be a reliable value that somehow protects savings from inflation. Of course, with the advent of cryptocurrencies, the prospect of investing in gold has dimmed a bit. But cryptocurrencies and gold have their own advantages and disadvantages, so they may well find their place in the global financial system. At the state level, gold will remain almost at the same high level of popularity.

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Chances are high that its market value will continue to increase as years go by but it won't be as fast as other assets. So if you prefer long term investment then gold will be a good asset to have in the future, but if there are many choices to choose from.

Quote from: ChiNgadOr on November 03, 2022, 09:42:01 AM

Quote from: Sayakaaja on November 02, 2022, 07:15:45 PM

I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

The price of gold is always high, and maybe the price will always go up in the future.

I see all these as a joke, some countries moving from using usd to using gold. I hope they all know that gold is very volatile and holding a volatile valuable like gold can be very risky. The market cam be manipulated and things will get worse and worse many things uneasy. I will still stick with usd. I matter what many countries think about holding it as a means of exchange. Instead of holding gold for exchange I will prefer using Bitcoin which has better days ahead. I think this practice may not stay too long.

Volatile indeed but carefully observe how small its price move. Its market value does not move as fast as oil (for example); it increases in an instant but falls down again after a while which would probably worry an investor more. Peace of mind as an asset will be to gold and other stock market assets, no doubt. Bitcoin is quite of a different asset; more risky. One reason why is its too volatile market value but I cannot deny how profitable it is as an asset. But unlike Gold, this industry still is on the process of adaption from many countries.

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Quote from: cabron on October 30, 2022, 09:32:05 AM

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Countries hoarding gold is probably speculating also whether we are really going back to gold back currency soon.

Although the USD is dominating the world monetary system, the world monetary system has experienced a number of collapses before so the possibility of another collapse is possible, nothing is impossible.

When I read the news about countries hoarding gold, I also think that there will be a very terrible crisis coming or some kind of collapse in the future. If the monetary system collapses, gold will be the most valuable asset, and previously gold was also used as the currency of the world. Maybe gold or maybe a new asset will be chosen as the new currency. Bitcoin? Wink

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Quote from: Davidvictorson on November 02, 2022, 06:52:15 PM

In my opinion, gold might see one of two long-term changes: it could increase by $30,000 or decrease to $50 or $100 per ounce. On the other hand, if we experience another severe slump in the long term—say, let's 8 years—gold prices may decline. It is based on supply and demand, though. Therefore, I doubt there will be any left to sell in 8 years, gold will be valuable, which should raise prices rather than lower them.

Although many people say that gold has no aggregate supply, which is true, it is also difficult and expensive to mine gold so it is unlikely that gold will decline in price over time. Gold as well as bitcoin will always increase in price in the long run but will be much more stable than bitcoin. Currently, the gold price is also falling due to the impact of the economic crisis and the appreciation of the US dollar also causes the price of gold to decrease. But the countries are collecting gold in huge amounts, once everything is back to normal, gold will go up and my prediction will be at least x2 from here. I strongly believe that in the future, gold will remain a sought-after and top-of-mind commodity.

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Quote from: Sayakaaja on November 02, 2022, 07:15:45 PM

I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

The price of gold is always high, and maybe the price will always go up in the future.

I see all these as a joke, some countries moving from using usd to using gold. I hope they all know that gold is very volatile and holding a volatile valuable like gold can be very risky. The market cam be manipulated and things will get worse and worse many things uneasy. I will still stick with usd. I matter what many countries think about holding it as a means of exchange. Instead of holding gold for exchange I will prefer using Bitcoin which has better days ahead. I think this practice may not stay too long.

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Quote from: Davidvictorson on November 02, 2022, 06:52:15 PM

In my opinion, gold might see one of two long-term changes: it could increase by $30,000 or decrease to $50 or $100 per ounce. On the other hand, if we experience another severe slump in the long term—say, let's 8 years—gold prices may decline. It is based on supply and demand, though. Therefore, I doubt there will be any left to sell in 8 years, gold will be valuable, which should raise prices rather than lower them.

One of the factors that determine the prices of commodities is the demand and supply of that commodity which gold isn't exempted, with this your writing of gold been acquired hugely by china and china is one country I believe sees the future and for China to pick more Interest in gold, then I would advise people who have the funds to invest in gold. I believe in future, there might scarce supply of gold and a greater demand which will sprout the price increase of gold significantly.

For over years now, gold has barely dropped in price significantly if it has at all and it has a more store of value as one thing has been certain with gold, that if you buy gold today, one wouldn't sell it anything lesser than the bought price.

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Quote from: pooya87 on October 27, 2022, 01:50:30 AM

As fiat currencies dump, some countries are moving towards increasing the amount of gold they have in their reserves. More specifically some of them are dumping US dollar to replace it with gold. For example India recently bought 200 tonne of gold and there is rumors of more conversions happening. China has been doing something similar under the radar. So are others.

However, we haven't seen any significant changes in gold price yet to approve the above news.

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

Quote from: pooya87 on October 27, 2022, 01:50:30 AM

As fiat currencies dump, some countries are moving towards increasing the amount of gold they have in their reserves. More specifically some of them are dumping US dollar to replace it with gold. For example India recently bought 200 tonne of gold and there is rumors of more conversions happening. China has been doing something similar under the radar. So are others.

However, we haven't seen any significant changes in gold price yet to approve the above news.

I'm wondering what does everyone think about gold price in the long term, specially in coming year or two as the conflicts get worse and more economies crash which would push regular people to invest in gold and more governments to start increasing their gold reserves on larger scale.

Unless some miracle new piece of engineering or technology comes out that relies on using up more of the limited golf supply, there is not really that much which will affect the price. In many richer countries the population is actually falling which could mean lower demand for things like gold jewelry. It will always retain some values as it has some rather unique and special metal properties which can have many useful applications. At the end of the day though it is a non productive asset, when compared with something like company shares which can pay out a profit or reinvest them every year.

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Quote from: Sayakaaja on November 02, 2022, 07:15:45 PM

I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

Paper money is ordinary money that can only be relied on to buy traditional necessities or necessities of life in cash in traditional markets, so obviously there is nothing else that can be relied on through paper money because its value will remain the same. As for Gold, its value always changes even though it's not so much size, so it's worth keeping or buying when it's cheap. and I think it's also almost the same as buying Bitcoin when the price is still cheap and selling it when the price is already at a high level, because it is an investment that is generally very often done by many people in the past and also today.

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The price of gold is always high, and maybe the price will always go up in the future.

Gold will always have value and value in the eyes of society, because Gold has been considered a precious metal of high value. So it is very possible in the future the price will increase when the supply of Gold starts to run low in this world or when the amount of demand for Gold starts to increase.

Sayakaaja

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I think we should have both, fiat money or gold. Because we don't know what will happen in the future. It could be that gold will be more salable in the future. But, I don't know.

The price of gold is always high, and maybe the price will always go up in the future.

Davidvictorson

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In my opinion, gold might see one of two long-term changes: it could increase by $30,000 or decrease to $50 or $100 per ounce. On the other hand, if we experience another severe slump in the long term—say, let's 8 years—gold prices may decline. It is based on supply and demand, though. Therefore, I doubt there will be any left to sell in 8 years, gold will be valuable, which should raise prices rather than lower them.

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Quote from: Poker Player on October 31, 2022, 01:23:02 AM

I heard those rumors from China, and also about stopping paying for oil in dollars to pay in that supposed new Chinese currency, which could well be the CBDC. Searching the internet I see this:

Russia, China may be preparing new gold-backed currency, but expert assures US dollar 'safest' currency today

Whatever the expert says, as he will probably be biased, I will not comment on it.

This has been going on for a long time, countries including Russia, China, India, South Africa, Brazil have established the BRICS bloc and they are using the currencies of these 4 countries for internal transactions in the bloc instead of using USD and it is known that they are also planning to create a new currency to completely replace USD in the future.

Quote from: Poker Player on October 31, 2022, 01:23:02 AM

One of the things I find interesting about gold is that it is very convenient for storing and transporting medium quantities. Bitcoin can be used for both medium and very large amounts. There is nothing better to transfer $1B quickly from NY to Warsaw for example. But having a few thousand $ in gold or even tens of thousands does not occupy, does not weigh much and you can carry it in a suitcase.

What you say is not wrong, if using bitcoin to replace gold in the case of payment and storage, it will save a lot of time and costs. But with bitcoin's volatility, countries won't easily accept it as an alternative to gold. They are in need of a stable asset that does not depreciate and gold is a perfect choice in this case.

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Quote from: Kakmakr on November 02, 2022, 01:10:50 AM

I have seen discussions where people were saying that Gold prices were being manipulated by Cartels and also Gold companies to keep it stable. The Oil companies are doing this with oil prices, so I guess Gold companies can do this with Gold too.... they just control the supply and the cartels do the rest. Roll Eyes

A lot of the Gold are held in reserve and only sold when the price is going up, so you do not have a pure "Supply & demand" market, where people are trading and the real "Supply & Demand" is determining the price. Roll Eyes

I am not sure if gold is the same as oil, I understand that gold could be manipulated to a point, but there are way too many gold in retail investors hands, which means they could somehow manage to get profit from the manipulation and big investors wouldn't want to lose money to retail investors.

On the other hand, you do not really have oil, you could invest into the price of of oil to a point but you wouldn't "have" it, you are not going to just buy a gallon of oil and put it on your safe, like you could do with gold. That is why there is a big difference on how they could be manipulated. Both could be manipulated, but gold can't be as much as oil can.

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It is said that it was only a rumour so if there is no major price change then we can assume that the rumours are not true but despite of it I still think that the gold price in the future will increase continuously given that there are still more governments that will invest on it and made it as a reserve. There's also people who will do the same thing to protect their self from the crashing of the currencies but other than gold what about bitcoin?

I think there are already governments who make btc as their reserve but the only problem of using a btc is that it is more volatile than gold so there is a big risk but it's also possible for btc to recover, so why not?

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In long term gold will climb

Sir Legend

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I think gold is the safest and most profitable type of investment, we can see the gold price chart and it can be said that the price of gold is almost the same in all countries, this proves that gold is the safest and most promising investment even though the annual price increase is not large.

And for the future I believe gold will always be the main choice of investors and prices will continue to rise and if we look at the chart the increase looks stable between 5% to 12%.

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Gold certainly has good prospects in the future, everyone certainly agrees that Gold is the best investment and is a legal foreign exchange reserve and is accepted for all countries, gold has been used since humans know money, in the past money only came from gold and silver so that prices Any commodity is always calculated based on the price of gold.

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I have seen discussions where people were saying that Gold prices were being manipulated by Cartels and also Gold companies to keep it stable. The Oil companies are doing this with oil prices, so I guess Gold companies can do this with Gold too.... they just control the supply and the cartels do the rest. Roll Eyes

A lot of the Gold are held in reserve and only sold when the price is going up, so you do not have a pure "Supply & demand" market, where people are trading and the real "Supply & Demand" is determining the price. Roll Eyes

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