@pmh1nic said:
Mixed feelings. I would rather have gold going up than down since I own some but a dramatic rise means a dramatic fall somewhere else in the economy that probably is not very good for most of the population.
I do believe gold can rise to $3,000 by 2030 without it accompanying bad economic times.
It's only 7% a year....it's not the 1970's when it went up 20-fold in 8 years (40% a year for 8 years, conservatively).
Did it “go up” or did inflation “go up”? Those two things aren’t the same. If you buy gold in year one and sell it in year 10 for 10% more than you paid for it, but the costs of all other goods and services have increased by 10% over the same ten year period, you have made zero dollars. The gold is worth the same as the day you bought it. To make money in that scenario, you’d have to find something that increased in value more than 10% over that same 10 year period. Gold is a great store of wealth, but it never really “goes up” when compared to other asset classes. Of course, it also never really goes down, either.
I was buying gold in the sub$300 range. I quit chewing when a can of chew was the price of an ounce of silver. I would but an ounce of silver eyerday on my way home from work the it was like $2.Gold will go up 300% but it may be a thousand years from now. If you want to make money, fine art, rare coins and NASDAQ composite index funds.
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Did it “go up” or did inflation “go up”? Those two things aren’t the same. If you buy gold in year one and sell it in year 10 for 10% more than you paid for it, but the costs of all other goods and services have increased by 10% over the same ten year period, you have made zero dollars. The gold is worth the same as the day you bought it. To make money in that scenario, you’d have to find something that increased in value more than 10% over that same 10 year period. Gold is a great store of wealth, but it never really “goes up” when compared to other asset classes. Of course, it also never really goes down, either.
Not at all, there was no commercial intent in my post, I was simply starting a very reasonable debate with a provactive thread title.
Like when a headline grabs one's attention.
I was buying gold in the sub$300 range. I quit chewing when a can of chew was the price of an ounce of silver. I would but an ounce of silver eyerday on my way home from work the it was like $2.Gold will go up 300% but it may be a thousand years from now. If you want to make money, fine art, rare coins and NASDAQ composite index funds.