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The raise in the dollar is direct influence on gold value. This Gold decrease has been predicted by several economists for years. The same economists are also predicting gold and silver to raise to record amounts after a short period of devaluation.
The "usdebtclock.org" shows the value of Gold to be $9,000/ounce and Silver to be $995/ounce. I can only speculate that these values are what Gold and Silver would be worth if there was no price manipulation and was showing normal historical values.
I have a friend who buys and sells gold for a living. He has been unloading his personal stockpile for the last couple of months. He said he will retain 1/2 to 25% of it, but he thinks it is a good time to dispose of it for a while. If he is right and it drops considerably, then he will buy it back. So far, it has dropped some. He is not buying yet.
It will be interesting to see if India's currency swap has any bearing on gold's market demand. India and China tend to be the most important buyers as of late.
More important is a possible restriction of gold imports by India.
Gold was $18.93/ounce from 1850 to 1871.
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So, that's the history of gold prices prior to deregulation.
If you are going to go back even 20 years, let alone over a century and a half, it's not reasonable to NOT use inflation-adjusted gold prices.
Note that I realize that you were trying to be sarcastic, but you COULD have been so much more biting.
The price of gold was around $1,000 an ounce through that entire 1850-1871 period.
Quote:
Originally Posted by WannabeCPA
If history is any indication, and I think it is, it's very likely gold will go down sometime in the future. It's also almost inevitable that gold will go up in the future. So there you have it. Gold will likely go up and down in the future.
Excellent. Beast post so far.
Later, I'll reveal the best post ...
Quote:
Originally Posted by Hemlock140
Sure, it will go down if a huge amount is discovered somewhere and floods the market. Like anything else rare, the value is based on the demand and scarcity. It's like the diamond market, prices are kept high by those big corporations owning and hoarding them, releasing just enough at a time to make good profits.
No. It's not like that.
The gold supply is all the gold that has ever been mined. It's basically all around and all available at a price. New mined gold supply is HUGE, but only increases the amount of gold available in the world by a few percent and decreasing each year.
All the gold mined last year is there in the supply. All the gold from the year before that is also available. All the gold mined the year you ( and anyone else reading this ) were born is right there ready for the buying and selling at the right price.
No big corporation controls the supply. A big government used to control the supply, but that isn't even a factor now and hasn't been since 1974. At best, a big government can INFLUENCE the supply if they want to dump all their gold on the market, but it's a splash in the pan ( or flash ).
People that worry about gold's year-to-year moves tend to be bad speculators.
If you are going to go back even 20 years, let alone over a century and a half, it's not reasonable to NOT use inflation-adjusted gold prices.
Note that I realize that you were trying to be sarcastic, but you COULD have been so much more biting.
The price of gold was around $1,000 an ounce through that entire 1850-1871 period.Excellent. Beast post so far.
Later, I'll reveal the best post ...No. It's not like that.
The gold supply is all the gold that has ever been mined. It's basically all around and all available at a price. New mined gold supply is HUGE, but only increases the amount of gold available in the world by a few percent and decreasing each year.
All the gold mined last year is there in the supply. All the gold from the year before that is also available. All the gold mined the year you ( and anyone else reading this ) were born is right there ready for the buying and selling at the right price.
No big corporation controls the supply. A big government used to control the supply, but that isn't even a factor now and hasn't been since 1974. At best, a big government can INFLUENCE the supply if they want to dump all their gold on the market, but it's a splash in the pan ( or flash ).
People that worry about gold's year-to-year moves tend to be bad speculators.
The bolded is simply not true, at least to the extent you claim.
Huge amounts of gold are lost to commerce forever every year through wear, being intentionally discarded, or accidental loss. Gold used to plate jewelry and watches in nearly never recovered, nor is gold when it has been converted to gold leaf and used as decoration. Solid gold jewelry is subject to wear and gold loss with each time it is worn, and yes, people accidentally or intentionally discard gold daily due to a lack of understanding of a piece's value or simple neglect.
No. The price of gold, a historical volatile commodity, will now stay the price for the next 100 years.
Quote:
Originally Posted by freemkt
but the other day I took advantage of the plunge to buy more.
LOL
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