The only way that gold will fall is if we have a general commodity collapse.
That could happen.
But the US is facing a total disaster on wheat production this year. The cattle herds have been sold off in huge numbers because of the drought in the Southwest and at some point as rain returns beef prices will spike.
Gold? You cannot eat it. Wheat & cattle you can if you can afford it.
If the dollar becomes worthless, with what would you pay for that scarce beef or grain?
That's just one of the reasons it makes good money.
There is “paper” gold and there is physical “in your hands” gold. The latter has a substantial premium - the market is saying something.
"Perhaps now you know why the Chinese are buying up so much gold – hundreds of tons of it at a crack, and more and more all the time! As are other peoples and central banks! – and why they are thus going to have a very strong currency, and why they are going to have a vibrant, self-sustaining economy based on real demand, instead of depending on the fake demand caused by both government deficit-spending and everybody borrowing themselves into bankruptcy to consume things."
Am I going to have to pull out the bingo card again?
But I can buy anything I want with it. Like people have all over the world for the last 6000 years.
Gold? You cannot eat it. Wheat & cattle you can if you can afford it.
It’s the way economies have worked for millennia.