Will Gold Hit $2000?

WendyMay

Member
As I sit here and type, the price of gold is rising. It's risen all the way up to $1969.74 during the past year. Silver has jumped up a few dollars in the past weeks to a recent high of $24.21. I check Gold Price religiously to keep on top of these things. I would love to say that the price of gold is going to keep going up, but as we all know, anything can happen. It's weird with gold (and silver) - the price swings can be substantial. The price tomorrow may drop a few hundred dollars or rise a few hundred. It's my hunch that it'll keep going up only marginally because investors really can't predict what the near future is going to bring. They invest in it cautiously. From my own personal experience, the price of gold is much more based on emotions than fundamentals. If investors think all of this Coronavirus stimulus will cause inflation in the future, they may invest in gold now. If they think there will be some sort of economic collapse, they also may invest in gold now. Either way, nervousness around the economy inspires investment in gold.

My husband and I began buying gold and silver bullion back in 2007/2008. I remember picking up a few ounces of gold for around $700 per ounce. At the time, I thought this was very high and I really didn't want to spend any of our money on something I thought was so frivolous. After our first ounces, we continued to purchase for the next two years. We were buying silver at about $10 per ounce and collected quite a bit. We still have it all too. Right now, I think we own approximately 25 ounces of gold and a few hundred ounces of silver. The gold is fun to buy, but we just store that in safe keeping right away. Personally, I enjoy the silver more. There are so many different types of bullion to choose from. I like to look at it and compare designs between coins.

Basically, as a bullion owner, part of me wants the price to shoot through the roof. The other part of me knows of the terrible circumstances that may cause that to happen. I would obviously like to avoid those circumstances. But being the frugal investor I am, I try to be ready for anything.

What's your view on gold bullion? Or ETFs for that matter? What to you think will happen to the price in the future? Don't even get me going on why China and Russia are buying en masse. That's a post for another time.

By the way, if you would like to see a gold price chart over the last century, check this out.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

Here's a photos of some of my silver bullion.
 

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CraigHardy

Member
What's your view on gold bullion? Or ETFs for that matter? What to you think will happen to the price in the future? Don't even get me going on why China and Russia are buying en masse. That's a post for another time.

That's a pretty nice stack you have. I'd like to see more photos if you can share. Regarding gold, I've been listening to Peter Schiff talk about an $8000 price tag for years and years (probable a decade), but he's apparently upped his game recently. Now he and Jim Rickards are talking about a $15,000 gold price. That's pretty crazy. Take this with a grain of salt because it seems that all of these gold guys have been saying this type of thing for ages.

 

WendyMay

Member
That's a pretty nice stack you have. I'd like to see more photos if you can share. Regarding gold, I've been listening to Peter Schiff talk about an $8000 price tag for years and years (probable a decade), but he's apparently upped his game recently. Now he and Jim Rickards are talking about a $15,000 gold price. That's pretty crazy. Take this with a grain of salt because it seems that all of these gold guys have been saying this type of thing for ages.

I just watched the video. Both gentlemen seem confident that we'll make it very high. It wasn't the video that struck me as much as one of the comments did:

"I get excited about that price, but then I think about how F’d we are when it gets there."

That's the same thing I'm thinking.
 

KodyWallice

Member
8/5/2020 - Gold has hit $2037 and Silver has hit $26. Something big is going on out there and I think more and more people are onto it. Here's a chart from Gold Price.
 

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