GOLD PRICES : BULLISH or BEARISH ??

[ghostminer]

I would like to hear comments on future gold prices per ounce over the next few years. Are you bullish or bearish? What is your prediction for the 2018 highs? I for one am bullish for several reasons. The major reason is China is now backing oil trading in their currency with gold. This is weakening the U.S. Dollar while putting a bid under gold. It will actually be bullish for most commodity prices including oil, iron ore, copper, silver, & platinum. Also, the newly passed tax reform bill has weakened the U.S. Dollar. The third reason I am bullish is the global unrest (N. Korea). The Fed has been hiking interest rates which should have killed gold prices but gold has actually climbed higher. The Fed tightened margin requirements for gold trading several years ago but it is still climbing. I believe this is the beginning of a commodity cycle that will last several years. My prediction for gold for 2018 is $1450/OZ and $1600/OZ in 2019. Your thoughts?

 

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[StreamlineGold]

I think crypto is a pseudo inflated currency...its tangibility as compared to real money its really hard to understand. It worth trying investing as high risk though.

 

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[Johnnybravo300]

Speculative bubbles are always the same whether it's tulips or beanie babies, the stock market or whatever. As long as there are people buying in and keeping it pumped up it's hard to know the true value. Usually the true value is shown when it goes belly up and everyone wants to sell.

 

[Goldwasher]

like when you try to cash in bitcoin?

 

[benny]

I used to think that the price of a barrel of oil defined the price of gold. Kind of an "oil standard". No more. Now I think the price of gold is defined by the price of futures and so has no bearing on the price of rarity, mining, or refining. There's lots of gold in the world, but sources for silver are becoming scarce.

 

[ghostminer]

China is now competing in oil trading with their currency vs U.S.Dollar. For those not comfortable trading in Chinese currency they are now backing it in gold for oil trading purposes. This is the beginning of the end for our Dollar & puts a strong bid under gold. If you have been watching oil prices they are climbing. Now well over $60 & this is the off season for use. Gold as well as most commodities priced in U.S. Dollars will continue to climb. Not a pleasant thought for us Americans.

 

[Mackaydon]

The light in my crystal ball light went out; sorry, can't render an opinion at this time.
Meanwhile, I'll stay in rarer coins; avoids 'day trading' PMs.
Don.......

 

[KevinInColorado]

Saudi oil manipulation (ahead of their intended sale of part of the royal family’s oil company) and the US administration saber rattling about N Korea are both weakening the dollar which pushes gold up (in dollar terms).

 

[bc5391]

We aren't talking about buying gold but speculating on the future price of gold.

IF you are talking about speculating, you are talking Futures , I believe every 10 cent move was worth $100, I could be wrong that was 15 years ago