Would You Buy Physical Gold At $2200/Ounce?

People here are taking the worst of the worst and making very bad ad absurdium arguments.

Suppose the world were so drastically changed that you would actually consider buying a loaf of bread with a one ounce gold coin. The public would not care if your coin were in the form of an old government issued measure or in your own home-poured ingot. So why not take that one ouncer and pour your own smaller ingots to make a bread purchase. People aren't really thinking in terms of what the world would look like if you actually wanted to use gold to buy bread. Look to Zimbabwe - they don't have the luxury of spending American Eagles - they panned the gold out of rivers and paid gangsters in flakes and nuggets! So to heck with acutal weights and measures in a SHTF world. Gold for bread is beyond drastic. The beauty of gold is that you can alloy it or make smaller ingots if you should so please because it's one of the most liquid (pun intended!) forms of money ever used in our short history!

I would assume if things got really bad there wouldn't be an exchange of money such as gold as much as there would be bartering of necessary goods and services for other necessary goods and services. Either you would produce something to barter or you'd work for someone else and be paid with food, clothing, and shelter.

OR if this was a localized meltdown of our country's economy it would become advantageous to use another country's currency instead of our own.

Once things stabilized then you could probably trade your gold and silver for whatever the new medium of exchange would be, but I'd doubt you would ever directly exchange your PM's for bread as it probably wouldn't be feasible. This is just my opinion.

Gold has no ceiling until the market says so. AT this stage, there is no overhead supply or price for gold above its all time highs currently. In these type scenarios, when there is no supply or memory in terms of price, prices can rise. and if they dont at first, doesn't mean all time highs wont be attempted again.

What is high will go higher and there will be buyers to take it higher, gold and any other asset. Its clear gold has done a good job of holding its highs. Furthermore, inflation is not necessarily needed for gold to go higher.

theres many factors at work with gold- supply and demand, a new era of being viewed as an alternate currency are two main themes.

In the end the markets will decide where gold ends, stops,rises, drops.

It clear its been on a long cycle of running higher and I suspect from its price action we will continue over the years to see a slow grind up.

Theyll buy a percentage as a hedge and better tax laws but they wont just buy indefinitely or covert entirely to it. They lose money too if it goes down and thats all they have.

I like Peter Schiff's answer to "How high will gold go?". He responds with, "I don't know. How much more money is Bernanke going to print?". That is a relevant question.

If by "staying there" you mean settling into a trading range as it has for the past year, then I would certainly consider buying, but my decision would be based on the chart and on my take of underlying economic conditions and where I think those conditions are headed. Price to me is not a consideration; the likelihood of a strong and sustained upward move is all that matters.

I'd buy it at $2500/oz if I thought it would go to $5000/oz.