Where is Gold heading?

With the markets up and down and the USD weakening where do you think this shiny stuff is going? up or down?

I think it can only go up, the way the world is at the moment it's about the only thing that hasn't gone t*t's up.
It's no good printing more worthless paper in an attempt to stimulate the economy, it's too late. We will end up returning to the Gold standard, we always have, and we always will. When the sh.. hits fan, as it must eventually do, then you'll be glad you have some gold.

Well currently it is nearly at 2k in USD.

so Just waiting for the boundary to break.

In the long run, gold always goes up "nominally" - that is caused by currency values falling. A rise in gold price indicates a falling currency (ie purchasing power). That is why they say if you buy gold, you are preserving your wealth and purchasing power.

Gold (and silver) is currently waaaay underpriced. Here are the fundamentals. Let's say we take the value of gold as the "total amount of currency in the world" divided by the "total amount of gold on earth, both mined and underground". In other words, let's back all the world's currencies by gold.

Total amount of currencies in the world (roughly) = $215 trillion
Total amount of gold on earth (mined and still underground) = 244 tonnes (about 8.6 billion ounces)

Value of gold should fundamentally be = 215,000,000,000,000 / 8,600,000,000 = $25k per oz

And the reason why the gold price is at $1900 per oz today is due to price manipulation. $1900 is cheap folks!

With recent talks regarding crypto and the leaning in Virtual gold . I suspect that the physical demand will start increasing soon. I also strongly advise my fellow friends to invest in Platinum. I am constantly looking out for 1/10th platinum Britannias and 1/10th gold.
Easy to sell. But by gosh hard to obtain.

Basel III got passed in Europe last Monday, so now European banks will have to abide by these new rules for gold starting Monday 5 July. In short, physical gold (ie allocated) will now be classified as tier 1 assets, and paper gold (ie non-allocated) remains at tier 3. Question now is.... will banks start to move from non-allocated to allocated? If so, they will be buying more physical stuff, which will then raise prices.

Grace wrote:Basel III got passed in Europe last Monday, so now European banks will have to abide by these new rules for gold starting Monday 5 July.  In short, physical gold (ie allocated) will now be classified as tier 1 assets, and paper gold (ie non-allocated) remains at tier 3.  Question now is.... will banks start to move from non-allocated to allocated?  If so, they will be buying more physical stuff, which will then raise prices.

We both read and seen this story thats been still developing.

My opinion on gold is that it is the only precious metal that is really worth investing in over the long term. There will be spikes (positive and negative) in silver but not to the degree you see with gold. Gold also offers a far easier method of stacking given the size to cost ratio, especially compared with silver. I regardless buy silver and occasionally will buy a silver proof if the design is something I am interested in. For instance, I will happily buy the 2oz Silver Krugerand as it is such a lovely coin.
My view on gold is that it will be up around the £1,350 mark by the end of the year and following the global wake up from Covid will drop a little in 2022 before settling around the £1,400 mark this time next year. For me the next 12 months remains the same...stack bullion at spot, avoid proofs and high premiums and do not sell unless absolutely necessary.

Totally agree

AgAuAgAu wrote:My opinion on gold is that it is the only precious metal that is really worth investing in over the long term. There will be spikes (positive and negative)  in silver but not to the degree you see with gold. Gold also offers a far easier method of stacking given the size to cost ratio, especially compared with silver. I regardless buy silver and occasionally will buy a silver proof if the design is something I am interested in. For instance, I will happily buy the 2oz Silver Krugerand as it is such a lovely coin.
My view on gold is that it will be up around the £1,350 mark by the end of the year and following the global wake up from Covid will drop a little in 2022 before settling around the £1,400 mark this time next year.  For me the next 12 months remains the same...stack bullion at spot, avoid proofs and high premiums and do not sell unless absolutely necessary.

I never sell. LOL

I just Melt.

Admin wrote:I never sell. LOL

I just Melt.

You shouldn't be melting just now if it's snowing up where you are!    

I know where gold here is heading lol from my gold pan into a jar lol with a price of $2265\Ozt (CAD) it is well worth getting into panning and sluicing for it here lol I am addicted to gold and im proud of it lmfao I once thought it was gold fever that had me but ive realized its no longer just a fever but has mutated into a gold plague as I have overwhelming desires to spread gold fever far and wide lmfao

I like wearing it!

LMAO. that is too funny but what a brilliant answer to the topic. 

i was seriously laughing out loud. 

I have no idea where gold is heading but have you seen Platinum ? I MUST start buying more 1/10th coins asap! That is a Goal for 2022

Personally – I love Gold. To me owning Gold is akin to possessing a little piece of ‘Eldorado. Gold has built empires and financed the forces that ultimately became their nemesis. Gold has been valued highly for thousands of years and its power, like the tides, will remain but ebb and flow.

However, Gold’s day to day price is dictated by the vagaries of market sentiment. This market sentiment consists of increasing stages of hope, optimism, belief, thrill and ultimately euphoria before eventually collapsing towards despair. Then the cycle starts all over, albeit from a different level.

Thus, market sentiment generates variant money flows, which are reflected in long-term price patterns i.e., charts which facilitate the distinguishing of signal from random noise. These patterns of price movements over long-term periods are analogous to the modern concept of ‘neurons that fire together – wire together’: thus, a long-term chart presents a view of the architecture of - a data processing neural pathway, expedient upon human emotion (sentiment) over time period.

These price patterns are distinguished by price ‘nodules’ (support & resistance points) that are monitored by ‘high- finance’ algorithm churning ‘bots’, which then initiate huge buy or sell orders. Therefore, cycle upon cycle evolves within greater cycles. On a daily basis we have ~ 98 % noise to 2 % signal. Only as we stand back and view the bigger picture – the macro view, can we start to perceive the whole. It is impossible to clarify the meaning, or storyline of a book by examining one sentence. The view is too micro, too small. A paragraph neither. Only as a chapter unfolds, does understanding of the story emerge. Yet if it be a middle chapter, it must be a continuum of the earlier chapters. Only the full book reveals its essence.

The price patterns I see in Gold and the other precious metals are too fraught to constitute an attractive or major entry position. I think the price of precious metals will deflate over the next year. Then in summer 2023 a new paradigm will emerge…only my personal opinion…as always DYOR.

I haven't been investing in gold for very long.
But now my collection of builions coins and bars are about the spot price.
You can't say that about my silver collection.
So my main goal is gold, but I keep saving silver for the quantity and because it is also beautiful.

AceBullion wrote:With recent talks regarding crypto and the leaning in Virtual gold

https://www.thepreciousmetalforum.com/t214-gold-or-crypto-why-not-both

JOS WRSM wrote:I haven't been investing in gold for very long.
But now my collection of builions coins and bars are about the spot price.
You can't say that about my silver collection.
So my main goal is gold, but I keep saving silver for the quantity and because it is also beautiful.

I can say that. 
I was buying Silver at £14 a oz. 
I have plenty of silver from that time. Most came from Baird & CO. 
My larger 100oz bars were vaulted amongst the Gold I purchased from them. 

Both have continued to do very well and last year I was tempted to sell because my collection doubled in value for Silver. However although spot has since dropped to 17 ish pounds compared to the 28 last year. I plan to continue to hold onto it.

Was courious about the big bars if something ever happens would you be able to move the big bar as easy as the small ounces and halfs would be easiest wouldn't it

m&m prospecting wrote:Was courious about the big bars if something ever happens would you be able to move the big bar as easy as the small ounces and halfs would be easiest wouldn't it

In my situation. 

I took X amount of money following my accident. I bought Large GOLD and Silver Bars. 
I also bought monster boxes of Silver 1oz coins, and say a few other things. 

Over the years since. I have been buying no more than 1 kilo bars. 1 Kilo is difficult to shift quickly. 
1 oz of gold is hard to sell quickly. 

However as the vaulting service does my valuations I am always guaranteed SPOT price if I decided to sell to them. I have taken my collection back once and inspected it. Yes they are the same identical bars, etc I bought with the same serial numbers I have physically. 

I keep X amount at my house but when it gets to X amount I request a pickup and they add it to my vaulted collection. 

As a normal person or beginner with X amount I would say to buy up to 1oz of gold max ( do not buy a 100g bar ) unless you know you will never need to sell it in a quick pinch. Have back up plans ... I sure as heck do! 

Silver buy up to a kilo, but know that 1oz rounds, or bars are easy to sell back quickly. But buy them cheap!!!! Seriously if you can buy second hand from a reputable dealer. 

Your base stack is crucial and will help in the long road. I am at that point where I just buy premium stuff to make me keep stacking. I enjoy it. And some does make me money, some is just art. 

DO NOT buy poured silver... Yes I know the irony of me saying that, but I clearly state that on my website. DONT

Larger bars require large pockets. And finding the right buyer for a 2-5k item sometimes takes a long time. Where as you can sell that same amount in a smaller form and make signifyingly more and sell out in a day or 2. Seriously !!!!  And never be greedy. don't loose out but don't be greedy. This is how people " FLIP " coins, I hate that but they make a lot of money!!!!  

I hope that helps a bit bud, and any questions ask. I honestly bought silver for well under £14. My biggest purchases of Gold and silver were around 2007 and 2008.  Then I bought more in 2011 and started collecting bullion socially around 2016 as a collector rather than having just bars that are pretty and all but were just a insurance in case one of my operations failed really bad. You know what I mean. 

So there you go. 
you can make of that as you will but even if you have tonnes of money, your best bet is to buy for the average person. NOT the person who struggles to buy a oz of silver..... and not the person who buys Monster boxes at a time. 
You want to be able to sell quick. And keep a note of what you paid.... it helps! 
I have thousands of receipts. I need to put them onto a computer to see easily rather than just staring at folders of invoices etc.

I understand I thought was a great question for beginners as Stacking starts and not knowing what we are doing and as well as a governmental break down

m&m prospecting wrote:I understand I thought was a great question for beginners as Stacking starts and not knowing what we are doing and as well as a governmental break down

If the US government broke down, the pooh would hit the fan. 
Silver would not save anyone, and the thought that it could save you or be part of a barter system would be useless. After all, if you think hard about it, the only useful thing is skill, labour, trade,
Physical things would be useless. I know I know I can hear the crys already, but owning precious metals is not a doomsday thing. I do not care how much Gold, Platinum, Silver, you have. It will be worthless. 
When the economy starts over again, you will be ahead of most, because your bullion is not tied to a denomination. 

If the SHTF what will save you is your skills, and what you can do to trade with others who can do those things.

Rite I understand but as well as the rich get richer there skills are useless to the fact as only growth of income and management skill set there gone as we know it I still believe that seeds are the way lol no a pepper so you can baker if that happens but as well I believe silver and gold and gems are still goods to barter with

m&m prospecting wrote:Rite I understand but as well as the rich get richer there skills are useless to the fact as only growth of income and management skill set there gone as we know it I still believe that seeds are the way lol no a pepper so you can baker if that happens but as well I believe silver and gold and gems  are still goods to barter with

I understand what your saying, 

But I believe we are in the mists of another crash, same as in the 70s and in 2011. 

So although I think that silver and gold are not worth anything really to barter with, I do believe that we are in the mists right now if we budget correctly to gain again substantially if we invest and buy bullion as low as we can. 

Either way we are all on here stacking and investing in bullion. So my thought is if the SHTF we are still better off. I hope your opinions never come to realisation, and I hope that mine are accurate. This way we all benefit from the prices in the near future.

Gold is currently doing very well. From February 18, 2021 to today 13.10% up!!
It's a little different with silver. 6.82% down during this period. But I keep stacking silver (and Gold)