- US Mint will price products by the London spot market starting in 2030 after many years of listening to its customer base. US Mint feels this will spur more sales of its American gold and silver eagles.
Given that a great deal of the inflation in precious metal prices has been due to quantum easing and essentially the devaluation of the Pound and the Dollar it depends on your view of what will happen in the currency markets denoting what is likely in precious metals.
Personally with the euro having troubles and the US economy spending way more every year than it can sustain I think currency devaluation/collapse is a likely occurrence in the next ten years and therefore more boom in precious metal prices. Having said that it could be 20 or 30 years before a serious financial meltdown...it is a guess and an instinct rather than anything that can be corroborated.
In 30 years however when the oil has run out and food supplies have dwindled to 20% of what can be produced now somehow I can't think that precious metals will be a particularly high priority but cash may fare even worse.
If I was to bet on any commodity oil seems the most likely to rise (Russia's entire oil potential could run the world for just 2 years at present consumption and 60% of the worlds oil is contained in an area smaller than Kansas between the border of Saudi and Iran) Oil companies declare new oil find which they previously kept off their books for tax reasons but really no one is discovering any major new finds of oil, and when they do these finds are smaller and smaller and more costly to extract.
I find these things depressing to think about... better not to put all one's eggs in the same basket :) just try to enjoy life while the sun shines.
By 2025, all commodities will be valued by their taste. Gold will crash thanks to its chemical inertness and resulting lack of flavour, but copper will rise to $500 a pound thanks to its distinct metallic tones. Oil will replace alcohol as the societal beverage of choice, and we'll all smoke coffee.
Quote: In 30 years however when the oil has run out and food supplies have dwindled to 20% of what can be produced now somehow I can't think that precious metals will be a particularly high priority but cash may fare even worse.
Did you mean to write 300 years?
We have hundreds of years of oil left not 30. There only way were even close to running out in 30 years is if we start nuking oil wells or god himself says no more oil. Any source telling you well be out of oil in a decade or two is flat out lying and I'm assuming some environmental extremist
My intuition is saying silver will be $75-80 a troy oz. My intuition is also telling me that precious metals in general will be harder to obtain than it is today, due to government involvement.
Nala---I like your post, but I have to differ with one of your predictions. I don't think we'll be smoking coffee. I've tried and I found it impossible to light it. It keeps putting all my matches out, and I ended up spilling it all over myself.
I reckon silver will cost $80 an ounce as welder said. I also believe that horrible inflation will devalue money and its equivalent today would be $10 an ounce. Soon as planetary resources gets involved, PM prices will plummet.
"North America has set off a supply shock that is sending ripples throughout the world," said IEA Executive Director Maria van der Hoeven, who launched the report at the Platts Crude Oil Summit in London. "The good news is that this is helping to ease a market that was relatively tight for several years. The technology that unlocked the bonanza in places like North Dakota can and will be applied elsewhere, potentially leading to a broad reassessment of reserves. But as companies rethink their strategies, and as emerging economies become the leading players in the refining and demand sectors, not everyone will be a winner."
U.S. oil and gas production is evolving so rapidlyâ€"and demand is dropping so quicklyâ€"that in just five years the U.S. could no longer need to buy oil from any source but Canada, according to Citigroup's global head of commodities research.
Citigroup's Edward Morse, in a new report, projects a dramatic reshaping of the global energy industry, where the U.S., in a matter of years, becomes an exporter of energy, instead of one of the biggest importers.
The shift could sharply reduce the price of oil, and therefore limit the revenues of the producing nations of OPEC, as well as Russia and West Africa. Those nations face new challenges: not only are the U.S. and Canada increasing output, but Iraq increasingly is realizing its potential as an oil producer, adding 600,000 barrels a day of production annually for the next several years.
If you are looking for wild, unsubstantiated guesses, I would venture that the next bubble will be after 2025 so prices will have settled back down again by then. $12 silver, $750 gold. However, a lot can happen in 12 years, so who knows!
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Posted 05/08/2013 1:18 pm
