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 Replies: 10 / Views: 1,005 |
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Pillar of the Community
United States
2269 Posts |
I have been away from my computer all day. About an hour ago, I was shocked to learn that gold just passed the old record set in 1980.  I know rising oil prices, inflation, and the falling dollar are contributing to the rising price of all precious metals, but how high does everyone think gold will go? And why the sudden surge? Right now gold is at $885.00, silver is $15.78, and platinum is $1552.00 per ounce. |
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Pillar of the Community
United States
2443 Posts |
I think it will go up and have a significant drop. I think gold would have to reach over $2,000 to be where it originally was back in the 80's. I don't know the exact specifics(and I'm too lazy to search  ) but if anyone is interested this website might be helpful. http://www.westegg.com/inflation/Edited by Amazon99
01/08/2008 10:13 pm
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Pillar of the Community
 United States
2269 Posts |
I believe gold would have to reach between $2,115.00 and $2,200.00.
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Pillar of the Community
Australia
3831 Posts |
Bulls, everyone talks about demand and not one of you even bothered to take a look at the supply side. I do agree that in the short term, prices of all precious metals will go up but it will go down perhaps after 5 years as major mining companies such as BHP Billiton and Rio Tinto are already setting up equipments to increase mining productions. Do you think they are dumb not to take advantage of the high metal prices? I am not aware how much more supply is going to be online but they are definately being setup at the moment.
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Pillar of the Community
United States
1283 Posts |
When gold was at $450ish my wife insisted I invest in gold after touring a gold mine in California. Apparently they were in the process of reopening the mine since gold had gone back up. Should have listened!
It still had a looong way to go in terms of real dollars (adjusted for inflation). In that context, BOY was gold expensive in 1980.
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Pillar of the Community
United States
764 Posts |
i was one of the lucky ones. I bought all my gold coins between 3 and 7 years ago.
quarter eagles for less than $100, halves for less than $140, doubles for $400.
i want to go back =[
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Pillar of the Community
United States
2540 Posts |
I was going to dump my junk silver coins about three months ago. My wife actually talked me out of it!
(She probably thought that I'd be miserable without the coins, and she was probably right.)
Then I was going to dump some gold that I found with my metal detector (rings & stuff).
I was too lazy, and never got around to it.
Sometimes sloth is a good thing.
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Bedrock of the Community
United States
20753 Posts |
The prices of Gold, Silver, etc has gone up before and dropped. It will happen again and soon. Be carefull.
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Pillar of the Community
United States
1541 Posts |
I've been wanting to buy gold bullion from time to time and only managed to get about 3oz when gold was $500 or less. But right now its out of my budget. Maybe I'll settle for 1/2oz or sovereigns.
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Pillar of the Community
United States
749 Posts |
Ha! I ( well bf was buying it for me) recall buying a gold necklace in the 80's..had to put in on lay-a-way. Wow! Was it really over $2K an ounce..wheewww
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New Member
United States
29 Posts |
Gold still seems like a good investment to me right now because our (the US's) huge debt and the devaluation of the dollar. Until we get our debt under control the dollar will be volatile.
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Replies: 10 / Views: 1,005 |
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Posted 01/08/2008 10:29 pm
