Gold Price Direction and Gold Investing - My 2cents worth

Описание: Gold Price Direction and Gold Investing - My 2cents worth

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My wife and I were talking the other day and we're talking about where the gold price is likely to go to and different gold possible investment strategies going forward Now. I'm not an investment advisor, not giving any advice, just my 2 cents worth on things related to gold.

Going forward, where is gold going to? I guess we've all seen the gold charts that go from nothing. Pre 1971 when gold was fixed to, what's it, $35 an ounce floating on the market, about 71 skyrocketing in the, in 1980 when the Soviet Union invaded Afghanistan, dropping back to about the 300, $400 an ounce.

That time during the 1980s, it reached about was it about 1800 US dollars? An ounce dropped about three or $400. Sat there for a long time and eventually got going. I think it was, what, $2,000 last year? Now it's 3,200 us. We're talking here. It's about what's it? 5,100, 5,200 Australian Pesos. yeah it's gone up a fair bit.

Is it going to go up, is it going to plateau or is it the, this, the start of the slow slide back to the horrible values of the nineties and, earlier. So my thinking is, and again, this is my 2 cents worth. Take it for what it's worth, and if you need advice, seek a financial advisor. My thinking is that gold is not going to slip back.

Gold is a function, I should say the gold price is a function of instability in the world. So the more unstable the world is, and the more people have distrust in existing currencies and financial institutions and instruments, then there's a rush to gold. So every time there's been a recession, every time there's been a war, et cetera, people have rushed to gold.

Because I guess when you think about it, if everything else fell apart, you could trade a chunk of gold to someone else and it will still have value, even if the currency is worth nothing and you could buy a loaf of bread or feed your family or whatever. So going forward, I can't see the world getting any more peaceful than it is at the moment.

Let's put it that way. We've got. Clowns battling it out in Ukraine and either side, we've got clowns in Israel, either side battling it out. You've got clowns in the which we should say in Asia threatening to throw nuclear weapons at each other. There's always this ongoing tension between the USA and, China and.

The world economy is still trying to recover from high interest rates, which are nothing compared to those of us who lived through the Paul Keating's recession. We had to have an interest rates of 17 plus percent. So we're coming off those interest rates, but there's every chance they could go back up.

High cost of living expenses. I can't see the world getting any better. Anytime soon if the world decide to get a whole lot better and a whole lot more stable and a whole lot more peaceful. Yes, I see. I, in my opinion, getting my 2 cents worth. I see the price of gold slipping away and going back down to much more lower values.

But at the moment it's not gonna do that. I can't see it doing that. I think it's gonna keep marching upwards. So what's happened in the last, we raced up to about. We're talking everything. US dollars here, we raised up to about $3,200 about a month ago, maybe a little bit more. And in that time it's stalled.

It's plateaued. It's balancing between 3030 200 back and forth, in a sort of horizontal holding panel. I think that's more of a function of profit takers. People who bought in a year ago, two years ago, whatever. Look at. I've seen fantastic growth in their money. The value of the gold should say not their money value's gone, money's gone backwards.

And then actually taking some money, their profit. And geez, you can't blame them. But that's allowed to go on for a certain length. And then I think some of the central banks may start to step in and buy some more gold. If that happens in a big way, gold price is off again. So what is my prediction for the future?

I. Well, I think we'll hold at this and let's probably creep up with the 3,500 by the end of the year. And possibly, who knows? Who knows? Let me grab my crystal ball and do a bit of polishing up the my, ball and maybe even get to $4,000 next year. That would be insane.