Gold Price Discussion

Please use this thread to discuss current Gold prices, fluctuations, speculations, history etc.

Where do you guys see the price of gold heading in 2013? Some say $2500+ while others are not so confident.

I've read predictions of $10,000 gold by 2020 and $2500 silver, personally I think it's a little ambitious but to think back in 2002 that gold would ever reach $1600 you could probably say the same thing.

Anything is possible in this messed up economy.

I believe that another depression is on the way and gold will be the main currency, again.

I too see another depression on the horizon

When economy America sneezes & Australia normally catches a cold with exception to the last.( although they say offically we didn't have a reception I believe we did and have recovered fully) They were talking of depression in America on the morning news so watch out Aussie's.
It is also a well known fact that gold value goes up during recession & depression, Simple put people start reverting to gold as safer currency or safer to put away. So that creatates more demand for gold increasing prices.
This is my opinion only.

gold price seems to be a bit down if not stagnate at the moment. I don't see it hitting US $2000 anytime soon. WIth a positive outlook on the economy at the moment everyone is jumping of the gold and back on to stocks. Be interesting to see what happens next few weeks.

I hear nickel is tipped to slide this year.

I don't think gold price will go up too much maybe down ,Platinum is the newby now worth close to same price as gold.

Agree here comes platinum. As a side note can platinum be detected easily? i thought it doesn't form in to nuggets? I know there is a platinum mine somewhere in Nsw.

Newbie said:

gold price seems to be a bit down if not stagnate at the moment. I don't see it hitting US $2000 anytime soon. WIth a positive outlook on the economy at the moment everyone is jumping of the gold and back on to stocks. Be interesting to see what happens next few weeks.


I hear nickel is tipped to slide this year.

Click to expand...

More like the big boys are advertising like crazy to buy stocks so only the little fish are left 'holding the bag', hence the push to get more people into stocks from everywhere else (GLD more than the 'traditional' holder of Gold).

My somewhat edumacated guess is that (save War III or other events beyond the influence of the US Federal Reserve) during 2013 Gold will be range bound from 1500-1900 USD per ounce and Silver 25-45 USD per ounce (large players in the US have great interest in maintaining the status quo for confidence in fiat currency).

I'm going with USD per ounce because I expect the AUD to have rapid swings this year as it ramps upward (as it has been doing since late last year) before a sharp drop (be it Iron Ore, China spilling the beans on some real data or other unforeseen events) in a similar fashion to what happened around 2007/08 (maybe less dramatic if the big4 et al learned their lesson last time).

Note however that usually I try to avoid making predictions; as getting it right but the all important date wrong tends to cause people to disregard your prediction (see for example Meredith Whitney [sorry for broken link as I'm still under 10 posts] - http://www . zerohedge . com/news/buffett-joins-team-whitney-sees-muni-pain-ahead-he-unwinds-half-his-bullish-exposure-ahead-time ). :|

Gold is slipping extremely drop from 1600 down to 1520 it is really in some trouble. 2000 by the end of the year looks further from happening.. Maybe it's all these large nuggets coming out. Lol. Could be all these companies starting to go after gold in old traditional areas,!or it could be the cycle. The price of fuel is probably more of a concern frequently heading over 1.60 a litre in recent weeks..

Gold is definitely taking a beating right now but I wouldn't be too concerned, $2000/oz by the end of the year is still a strong possibility IMO.

Down down, prices are down....

Price check....Get it while it's cheap.

I have heard there are some companies in the United States trying to control and drive the price towards $2000. So they keep saying "It's going to hit $5000" or what ever so people jump in because they think they are going to miss out.
Over the years gold has seemed to average out at about the same per ounce roughly as a weeks good wages. Yes, gold has lagged hehind in the past but every time it caught up it stabilized at around the same value to wages per week. Check it out.
The past few years I feel it has been too high.
As long as the marketeers can keep driving the price up it will keep going up.
With Marketeers writing headlines like "GOLD TO HIT $2000 BY CHRISTMAS 2012" has to have some effect on the matket. I think there is a lot of "spin" on anything salable these days.

That's my 2 cents anyhow.

Every time I log in to the forum the gold price on the top right chart seems to be sliding down or is something wrong with my eyes?

Maybe it has something to do with the sh!t fight between the US and North Korea :|

Or maybe Cyprus and then the next Euro centre crash that is to be announced on Mondays news.....
Short term fluctuations are to be expected, fluctuations of this degree over the time period, I havent seen before....
Gold is not a short term investment for most, so keep on diggin' its gonna be worth a shoot load in the future...

I think gold will get to and not much further than $2.000.00 this year. I think China bought 25 ton early last year. When this resource boom is over Australia will be in trouble. I've heard that MT Rawdon near MT Perry in Q.L.D is averaging around a gram a ton, makes me wonder how their surviving. Mick

I noticed that the price of gold has skyrocketed over the past 7 or 8 years.
Does anyone see this trend continuing?
Or will the ass fall out of gold and see the prices drop dramatically?

Two gold related topics have been merged as one

Gold took a plunge over night, down below $1500 per troy ounce for the first time since 2011.

http://qz.com/73970/gold-bugs-in-full-retreat-as-they-realize-there-is-no-looming-hyperinflation/




As the article says, however, gold is still up over 60% over the last 5 years.