Gold prices; currency is losing its value; gold prices will skyrocket soon.

[chirper97]

http://www.cnbc.com/id/15840232?video=1366029829&play=1

The government printing presses are accelerating, ergo the cost of gold and precious metals continues to climb.

This financial expert predicts that the situation will accelerate, and the amount of currency required to purchase gold will skyrocket, due primarily to currency inflation. He predicts the price of gold will be SEVERAL thousands of dollars an ounce in the near future.

The video linked has a lively exchange among experts.

 

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[Tom_in_CA]

Quark is right: No one knows, and those that say "it will only keep going up because of this or that political broohaha", simply ..... don't know. It may or it may not. Those that think they can guarantee it because of some other economic world things, are making guesses.

I am old enough to remember when gold got up to $1000-ish per ounce back in about 1980. I was in high school then, and was into metal detecting. I sold some gold rings, and all my silver coins, when the market prices were way up then. I still, to this day, dinstinctly remember fellow hunting buddies mocking me saying: "you're a fool to sell your gold and silver, as it will only keep going up!" In fact, I sold some of those same persons gold and silver, all the while feeling subconsciously like a fool, based on what they were saying

Of course, as we all know, it tumbled back down for the next nearly 30 yrs., and all those people buying and/or not-selling, took a big bath. Sure it could have gone up more. But it likewise might (and did) fall, despite the "experts" saying otherwise.

 

[LI Tom]

No one knows where gold is headed short term,but gold has always been a store of value since civilization began and that will not change.Since the creation of the Federal Reserve Bank in 1913,the Dollar has lost approx. 95% of it's purchasing power.Most of this loss has come since Nixon's making the Dollar a complete Fiat currency(no convertability to gold).Now the Dollar is just paper that the Government can print unlimited amounts of .No Fiat currency has survived long term.My first full time job in 1968 paid me $4,000 a year,that won't even pay half my property taxes this year.

 

[chirper97]

Re: "U.S. dollar value decreasing, and this drives the price of gold up" perspective, is there a chart available that displays say a 5 year history plotting:

Gold price
Yuan
Euro
U.S. dollar
Yen
Silver
Platinum



Could it be that, for example, the cost of gold in Euros has not seen the explosion compared to the U.S. dollar?