.
Nope, we are watching the slow death of fiat money. Short term, sure its probably run too far too fast, but expect 4 digits in the gold price in the not too distant future.
bling ping
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< / bubble>
The GoldBugs are going to bite you!
Gold's value always stays about the same - it's the currencies that are deflating.
Nope, a collapse of the dollar I would say.
This country has to get off it's lazy arse and start creating items of value.
Cisco. Broadcom. Qualcomm. Krispy Kreme. But gold is different.
Supply and demand? The demand is from hoarding.
.
There's lots of room for gold to climb.
what was the high, $800 oz around 1980?
What cost $800 in 1980 would cost $2031.73 in 2005.
Also, if you were to buy exactly the same products in 2005 and 1980,
they would cost you $800 and $315.00 respectively.
Remember the Hunt brothers and $50 silver?
What cost $50 in 1980 would cost $126.98 in 2005.
Also, if you were to buy exactly the same products in 2005 and 1980,
they would cost you $50 and $19.69 respectively.
Gold like housing keeps pace (usually) with inflation.
Fun calculator to play with @ http://www.westegg.com/inflation/
As times grow darker, gold glows brighter.
Now, whether it glows X$ brighter is always the question.
But it's always a comfort to have a little metal in your stash as an insurance bet.
Wouldn't be the first time.
I spoke to the best monetary expert I know, my father. The answer is no - gold historically rises when the dollar is expected to be weaker. Given the present imbalances in global trade, a weaker dollar is to be expected, and thus a rise in gold prices.
Regards, Ivan
By the way, what needs to occur for the dollar to right itself is as follows -
1. The yuan must be allowed to float - it is presently undervalued against the dollar and other major western currencies.
2. The yen should rise - the Bank of Japan does need to be discouraged from doing anything to stop this.
3. The euro should also rise marginally - the same advice for the ECB applies to the euro.
Regards, Ivan