Will gold prices go up again?
Answers
952 points
Grudun answered 2 years ago …
Yes, there are significant upward pressures on gold: Increasing demand(in consumer electronics and as jewelry) especially from India and China, the rate of supply growth is slow(a lot of marginal mines were closed when gold was at $300 and they take time to open), and of course the depreciating dollar. The question is when it will go up significantly not if.
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381 points
SirCrashton answered 2 years ago …
I think gold prices will continue higher. Even now they are showing signs of rebounding from lower levels of last week. Oil and gold prices tend to move in tandem and it's common knowledge that oil prices are trending higher and higher. Also, as long as the Fed continues with its inflationary policies the decreasing purchasing power of the dollar will boost the price of gold.
(I'm interested in the opinion of Tickerhound member warren).
546 points
warren answered 2 years ago …
What do you mean again? They have never stopped. Look at ANY long-term chart and compare it to the last 8 years in Gold. Market DO NOT and CANNOT go up any faster.
It's a bull market. Buy the dips. If your a trader sell some when it goes straight up. NEVER USE MARGIN.
Get rich.!
Warren,
www.preciousmetalstockreview.com
119 points
wiseone answered 2 years ago …
This market is, like oil now dominated by large, agile traders who can bring it down just as fast as it goes up. Unless you are prepared to watch it very closely do not play in this garden.
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warren answered 2 years ago …
Or play for the long term. If you wish you buy on a fishing line and sell a rocket shot. It has worked perfectly to date, and will continue to. Gold is counter-intuitive and must be traded that way. Long term it's going much much higher and I stand by that. Over $3,000 easily.
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