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Chris Gholson

Where is the price of gold headed?

Where is the spot price of gold headed?  

28 members have voted

  1. 1. In 1-year from now, where do you think the spot price of gold will be?

    • Higher
      11
    • Lower
      0
    • About the same
      17


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This link gives a good view of what influence the price of gold and platinum.

Gold verse Platinum   

In 2008, the price of platinum dropped from $2,252 to $774 per oz,a loss of nearly 2/3 of its value. By contrast, the price of gold dropped from ~$1,000 to ~$700/oz during the same time frame, a loss of only 1/3 of its value. 

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Its going up...2019 because of a number of factors, trade wars and the aggressive policies of the U.S. are making emerging economies withdraw from dollar assets . Repatriation of gold from  U.S. and British vaults...and a possible conflict with Iran will effect the oil/natural gas markets....which will IMHO create a huge demand for physical gold.    

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I just don't see much activity on the gold market in general. Even with the equities markets tanking the last couple weeks the escape into gold for protection and preservation has not been like it used to be. I see it staying  between a trading range of a high of 1300 and a low of 1100 ... pretty wide gap percentage wise but I certainly can not find any reason for it to revisit the highs of years ago.

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Mike  I agree , but  gold usually tends to be a fear trade for geopolitical reasons, not necessary economic ones. Improved US-North Korean relations and a recent cooling of tensions in some parts of the Middle East have made gold less attractive. Panic and sudden changes can make  people rush into gold, for now at least that fear factor has been absent but things can change very fast. The shift from the dollar is taking place and its real...European central banks, China, Russia, Venezuela, Iran, India and many more countries are doing away with their dollar reserves and replacement them with the Yuan and other currencies. The new paradigm shift from  the West to East is not going to change anytime soon. Although I agree with Trumps economic agenda domestically and internationally this will have a negative effect for everyone including our own economy as we will see a tit for tat retaliation.  Production costs going up, depletion of existing mines  and new explorations have not discovered any significant reserves as they did in the past. For these reasons and a few others IMHO gold will continue going up in price. 

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I'm going to say agree with mike on the price range $1100 to $1300.  Perhaps like low and slow said, the sources of new gold are getting harder to find, but I think demand for gold jewelry will go down as the four other precious metals (Platinum, palladium, iridium, and rhodium) become more popular in jewelry production.  I've seen a bunch of wedding rings with the more recently married couples that are not made of gold, but other metals.  Many jewelry companies are launching lines of those other than gold jewelry.  I really also believe people are not investing in precious metals for times of trouble, but are switching to Bit Coin and other crypto currency or block exchange or whatever you call it.  Although the dollar may be losing some headway in reserves, the price of gold is not really tied to the dollar, but an overall value.  Traditionally, an ounce of gold could buy you a set of nice clothes and a really fun weekend, no matter when it was, and I believe it will hold the value the same way.  Stock market is not really reacting to the tariff war, more like it realizes that there is trouble now but after both countries bluster and show their feathers, then they will come to some sort of agreement, almost as if the stock market sees this in the future.

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