6 votes

Gold Price Predictions

There have been a number of varying predictions about the direction that the price of Gold is headed for later this year.

It has gone up earlier this year but has come back down to the same price it was at the start of the year around 1600 USD per ounce.

Does anyone have any useful information to share about the future direction of the Gold Price?

Either way it looks to be volatile.




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Below is an interesting PDF of historical Gold Prices

http://www.nma.org/pdf/gold/his_gold_prices.pdf

Lord Acton, Lord Chief Justice of England, 1875 - "The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks."

Peter Schiff has predicted a

Peter Schiff has predicted a peak of about $5500 per ounce before it is all said and done. Mind you, he predicts this will be in our lifetime, so it could not happen until 2050.

So we have to wait that

So we have to wait that long??

That would be what I consider

That would be what I consider the "selling point".

My favorite

My favorite site.

http://kingworldnews.com

Thanks

Looks to have some good information even if it is slanted towards gold investement.

Lord Acton, Lord Chief Justice of England, 1875 - "The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks."

Gold is currently caught in a trading range

between 1550 and 1600, waiting to see if QE3 is in the cards or not. There is no guarantee that Bernanke will instigate more easing, even though everyone seems to think it is coming before the end of the year.

Summertime is the dull season for gold, but it should improve during the 3rd and 4th quarter. Could end the year between 1800-1850 but it all depends on the world's fiscal situation and how much more intervention is forthcoming.

I read an article awhile back

I read an article awhile back that demonstrated, with some nifty graphs, how the price of gold rises with the debt limit. At the time of the debt limit increase they calculated gold would rise to $1900-2000, but the debt limit is even higher now, so I suspect the true market rate for gold would be well over $2000 if central banks weren't swapping gold certificates to keep the price low.

Debt limits not likely to be raised

until after the election. They will leave it to the new Congress to battle it out in 2013, as none of the current congressmen want to hurt their re-election bids.

They raised it to $15.194

They raised it to $15.194 trillion in August after all the media hype, and that's when the graph predicted $1900 gold. On January 30th the limit was raised to $16.394 trillion, so I'm just guessing that would put the price over $2000 on the graph. I'm not a gold investment expert, but many investors say central banks and the major banking firms manipulate the price downward by participating in gold certificate swaps. The prediction, as I recall, was that the price would approach 2000 and then back off to 1900 and hover around there until the next debt ceiling increase. Since then, the price has defied the graph's predictions. Maybe historical trends don't matter in the new economy, or maybe it's price manipulation. I'd guess the latter, but I don't know what the Fed really does behind closed doors. That's sort of the whole problem.

Forget the price

buy all you can afford. At some point in the not too distant future, you'll realize it was the best thing you could have ever done. Don't sweat the price. Just be glad you have some.

With QE3

With QE3 I'd predict another spike.