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.

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[Martin Everson]

clemens said:
does anyone think it will increase further to maybe 2000 euros per oz?
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Depends how much traders can manipulate the gold futures markets 😉

gold Futures

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[nitehawk]

No because not enough people can afford to pay that.

 

[Tax Cow]

Martin Everson said:
Depends how much traders can manipulate the gold futures markets 😉

gold Futures
Click to expand...

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]

xzars said:
Manipulate downwards, you mean? 🙂
Click to expand...

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 and go back into income producing assets. Gold may fall below 1,100 mark in that scenario.

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[Tax Cow]

Martin Everson said:
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 and go back into income producing assets. Gold may fall below 1,100 mark in that scenario.
Click to expand...

This time is different. I agree with your analysis on the retail investors' behavior, but central banks just 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 of negative 75 bps to positive 100 bps APR.

Given these conditions, I don't see why 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 these institutions 😉

 

[JohnLocke]

Martin Everson said:
Gold does not produce an income and needs to be sold off for fiat for one to live 🙁.
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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 Group Gold from the Investment Matrix, I just find it interesting:

The largest gold owner in the world
The largest gold owner worldwide is neither the billionaire Warren Buffet nor Dagobert Duck. They are the world's central banks. Yes, you read correctly. Those who print paper money and publicly denigrate gold on almost every occasion have even the greatest gold treasure in their safes. Why this? The central banks apparently no longer trust their own product - paper money!
Click to expand...

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[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 from investors is expected to drive the gold price in the end higher.

 

[Macy Jones]

clemens said:
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?
Click to expand...

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

 

[clemens]

Macy Jones said:
According to me, it will take more than a year to hit that price
Click to expand...

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

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[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.

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[justnew]

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