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Why Gold Prices Are About To Skyrocket Even Higher
Oilprice.com ^ | 08-12-2019 | Charles

Posted on 08/13/2019 9:06:44 AM PDT by bananaman22

The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. But there is one key trend that stands to push gold up beyond $1,700--regardless of the day’s news.

Of course, it’s difficult for the bears to ignore a nearly $50/ounce gain for gold, which is now trading well above its 5-year high.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy
KEYWORDS: currencies; dollar; gold; goldprice; goldprices; preppers
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To: DesertRhino

I just love mathematically challenged people.

For you to lose 98% of your purchasing power over 100 years you need to:

Actually live to 121 years old, assuming you start working at age 21.

Assume no productivity improvements over your life time.

In anything. Cars last 60,000 miles. Watches are still considered high-tech because they tell time. Yep, what a life that was. Indoor plumbing a LUXURY.

100 years ago, in 1919, life was not static.

Go ahead and bury your head in the sand!

Keep buying gold. I’d have rather had Microsoft after the financial panic at $20 in March 2009. Add in the now $1.84 per share dividend (9.2% annually at the $20 cost) and you keep your 1979 gold purchase that you are STILL underwater on.

Store of value! What a joke.


21 posted on 08/13/2019 1:00:09 PM PDT by LRoggy (Peter's Son's Business)
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To: topsail

That’s a good point. That is a very good point.

Makes a ton of sense and I will remember that when how impractical gold will be when the fiat currencies become worthless.


22 posted on 08/13/2019 1:38:48 PM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: cuban leaf

I think because of the veiled panic I see in the eyes of the anchors on the CNBC channel of a recession and other coming events, we are in for a hell of a ride. All metals are going to soar like never before. I have a feeling and I hope I’m wrong, but the fact of unrest in Hong Kong...Iran sabre rattling, our own Soros led antifa and open borders, dark forces playing the marionette, “academia” upending truth, changing history and slaughtering common sense,... the media/web created social divisions...it doesn’t look good. Who here does not feel a little feeling of apprehension of things to come in the near future? I hope everyone has searched their souls and found peace with God as they know him. I hope family are forgiving each other of petty things and loving each other. Life is so short. I hope everyone is prepared with mechanisms of self defense, have some sort of food and water storage planned “just in case”. It would be wise I think to have a little gold coin or bullion stashed away, but I think a silver doller would be a good bartering chip in case of social melt down. Not too valuable to be robbed of but worth enough to buy food, gas, whatever. I have platinum but am worried in chaos people won’t have a clue what it is. Silver to me might become the currency of choice to the masses. Paper will be worthless. Lord have mercy! on our nation and it’s people, to weather whatever trials await us....


23 posted on 08/13/2019 2:11:11 PM PDT by Rainwave ("Work out your OWN salvation with fear and trembling")
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To: MichaelCorleone

Today, coin dealers and up-scale pawn shops serve as money changers for gold and silver coin.

Simply take one of your half or one ounce coin to them and it’s a done deal. Here in my town of about 200K people there are 4 or 5 such places that I know of, probably more.


24 posted on 08/13/2019 2:40:57 PM PDT by topsail
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To: Brilliant

Not really hard to predict it. Gold is growing with the inflation and oncoming stagnation. Check out how much is a new house or a new vehicle lately. The money are running into gold for protection against depreciation.


25 posted on 08/13/2019 4:41:42 PM PDT by NorseViking
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To: NorthMountain

I used to by pawn shop silver for a while. When it’s up you can find plenty when it’s down none.


26 posted on 08/13/2019 4:45:38 PM PDT by CJ Wolf (Teaching bagster to read taglines since 2019)
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To: NorseViking

So back to my point: Are you a billionaire?


27 posted on 08/13/2019 4:46:26 PM PDT by Brilliant
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To: Brilliant

Nope. Although I started to buy before it climbed this time. More like disprove your point. :)


28 posted on 08/13/2019 4:51:21 PM PDT by NorseViking
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To: NorseViking

I just bought some. But I suspect there is not much upside at this point.


29 posted on 08/13/2019 4:53:52 PM PDT by Brilliant
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To: Brilliant

Technically speaking it had small correction and keep climbing but overall I think you are right. Normally speaking the upside is not great but politics now rule the market. With all that trade wars etc it might still climb big time.


30 posted on 08/13/2019 5:01:17 PM PDT by NorseViking
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To: Rainwave

I agree with everything you said there, but I’ll add this: I see the Trump presidency as the “eye of the storm”.

When he’s out, be it in 2021 or 2025, things will go down fast. I honestly believe he will be the last US president to finish a term.

Regarding your comments about PM’s, it’s why I ONLY do junk silver, though I have a few dozen American Eagles. It may be a bit bulky, but it would be very easy tender.


31 posted on 08/14/2019 5:51:28 AM PDT by cuban leaf (We're living in Dr. Zhivago but without the love triangle)
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Gold up around $100 (6.5%) in the past month.
Silver doin' good too!
32 posted on 08/23/2019 5:32:12 PM PDT by misanthrope (Deranged, sinister deplorable)
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To: MichaelCorleone

and noone knows for sure how many times each oz has been “papered.....


33 posted on 08/26/2019 6:16:01 PM PDT by Therapsid (eagan)
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To: Brilliant
Are you gonna argue with the President or are you gonna buy some gold?


34 posted on 08/26/2019 6:28:47 PM PDT by Larry Lucido
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To: NorseViking

wealth is running from S.A.....europe..H.K.earthquakes on the coast....carfent....across our border...and the fed. threatened....china and russia proclaim ‘end the dollar/and big shots from all over the world are being arrested.....last week british finance minister says “might replace dollar w their own crypto....major banks have secret accting..noone knows how many times each oz has been papered out......imo.

if metals run hard...premiums will get crazy...and “by design” supply will become very short...imo


35 posted on 08/26/2019 6:37:58 PM PDT by Therapsid (eagan)
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