Do you think the 1 Oz Gold price will go up to 2000 euro this year?

[clemens]

I can see that the gold price has risen a lot in recent months, in fact by almost 150 euros per oz so it is now at around 1575 euros - does anyone think it will increase further to maybe 2000 euros per oz?

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[JohnLocke]

I believe it will take at least a year or two before the Gold price‌ will hit 2K.

 

[Martin Everson]

Depends how much traders can manipulate the gold futures markets 😉

gold Futures‍

 

[nitehawk]

No because not enough people can afford to pay that.

 

[Tax Cow]

Manipulate downwards, you mean? 🙂

Physical is hard to get and those spot‍ price suppressors will get caught pants down, having to scrable for gold they don't have,⁠ as more people ask for deliveries.

Spot could stay below, but I think physical will⁤ breach your 2K target, especially in USD.

 

[Martin Everson]

Going long or shorting can both‌ be profitable 😀.

Yes the paper gold market is detached from the physical market right‍ now. A spike in gold price above 2,000 is possible. But that is all it⁠ will be a spike before crashing back down. Gold does not produce an income and⁤ needs to be sold off for fiat for one to live 🙁.

Also once a⁣ vaccine is found and things return back to some sort of normality in 2021 and⁢ beyond, people who are inherently stupid in general, will cash in any gold gains and︀ go back into income producing assets. Gold may fall below 1,100 mark in that scenario.︁

 

[Tax Cow]

This time is︁ different. I agree with your analysis on the retail investors' behavior, but central banks just︂ ran out of yield on the last standing "big currency"

Gold at 0 bps APR,︃ free of default risk, can compete well with any "safe bond" in the range of︄ negative 75 bps to positive 100 bps APR.

Given these conditions, I don't see why︅ the average central bank has not already shifted 5-10% more of its reserves to gold.︆ Maybe it will take a little more time... Slow processors and old minds in these︇ institutions 😉

 

[JohnLocke]

Hmm, this time (I need‍ to point out it is the first time 😀 ) I have to disagree with you⁠ Martin!

As far as I know, the currency unit in South Africa Krugerrand which is⁤ 1 oz pure Gold. You can buy a car, food, house anything you want for⁣ your Krugerrand. I'm sure you can do that in many other South American countries too,⁢ without knowing it.

And here a snip from the big thread inside the Mentor Group︀ Gold from the Investment Matrix, I just find it interesting:

 

[simmonjoshua]

In my view, it will take at least a year to hit that price. Analysts‌ of Bank of America have published a report titled ‘The Fed Can’t Print Gold’ and‍ set a gold price of US$ 3,000 in 18 months. According to the analysts, interest⁠ rates in the United States as well of the rest of the world are expected⁤ to stay very low for a long time. Government spending, deficits and central banks’ balance⁣ sheets are predicted to increase significantly. While the strong US-dollar and weak jewellery demand from⁢ countries like India and China will put pressure on the gold price, the demand from︀ investors is expected to drive the gold price in the end higher.

 

[Macy Jones]

According to me, it will take more than a year to⁤ hit that price

 

[clemens]

today I agree - it is swapping between 1550 and‍ 1610 for some time.. but rising slowly towards the 2k mark.

 

[JohnLocke]

It won't get that high this year. It is following the stock market pretty much,‌ if the stock's go up the Gold does and opposite.

 

[justnew]

Made 10K in profits the last 12 months investing in Gold bar's which I bought‌ in a physical store in Germany.