Do you think Gold price will go down in near future?

Answer 1

I doubt it....Everything else is going up....

Answer 2

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Answer 3

no way thts ever gonna happen...instead every year it keeps on goin up and the price for what u culd hve bought two jewllery sets last year u can only buy one nowadays which is quite bad...but it varies from shops to shop as well coz some shops hve a tendency to sell it rele expensive coz of their fame etc while others just sell u it at a normal considerable price...as there r also loadz more styles there is no way the pricing is going to go down in near future bcz they also charge u for labour in it...but it's not tht the more expensive u buy the better it is coz if they hve three shaded gold sets then they don't last their colour for long

Answer 4

No, gold prices will not go down. First Jay Z is incorrect. Virutally every country ,at least that I know of, no longer backs their currency with gold. They are pure fiat (meaning "by decree"). When a currency is backed by gold, you can only print enough money as the gold will back. For example, if you have $50 billion in gold, you can only print $50 billion in currency as you only have that much gold to back up the currency. When the U.S. Dollar was gold backed, at anytime, anyone could trade in their dollars for the equivalent value in gold. That's why you couldn't have more currency in circulation than you had gold to back it up. Now, the dollar is pure fiat. There is nothing backing it except the credit and good faith of the government.

Take a look at this. Currently, the U.S. gold reserves are 8133.5 tonnes or 286,900,769.516912 ounces. At the current rate of about $620 per ounce for gold, thats about $177.9 billion. As of July 2006 the M1 money supply (M1 is all phyiscal money in circulation, ie, paper and coin) is $1.37 trillion dollars. So you can see, our gold reserves can in no way back the amout of physical money in the market. The M2 supply as of July 2006 is $6.85 trillion and the Fed (as of March 2006) no longer reports the M3 numbers which is the total money in circulation. The amount of currency in circulation in most countries far outstrips their gold reserves.

So, back to the your question. No, gold will not go down, at least not much. Sure, you do have prices moving up and down, but the primary trend for gold is up. Gold is a barometer of misery and a store of wealth. As things get tough or bad in the world, people will buy gold. Also, as inflation increases, people buy gold to preserve their wealth and buying power. Do you see things getting bad in the world? We're just 1 incident away from WWIII breaking out in the middle east. Is inflation rising? Yes, virtually every central bank is raising rates to fight off rising inflation. Gold, may go down a bit, but it's got a long way to go on the upside before it tops out. I'm looking at $2000 to $2500 per ounce before we see a top in gold.

Answer 5

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Answer 6

I assume gold will keep its rising trend. Following the 5year gold chart (http://kitco.com/charts/livegold.html ) I calculate a 18% annualised growth rate. So my estimate for Gold in August 2007 is 755USD per ounce.

Regarding silver, following the 5 year gold chart ( http://kitco.com/charts/livesilver.html ) I calculate a 38% annualised growth rate. So my estimate for Silver on August 2007 is 17 USD per ounce.

Answer 7

NO

& why should it be ?

rea$on- the currency which circulates in any country depends on the gold reserves it has

just think- why one country, does not print lot of money & become the richest ?

think
think

dont worry- gold prices will not diminish

Answer 8

is all up to politic games... but history shows gold,silver and the similar things are always going up and i'm sure the gold is going up for ever instead of going down

Answer 9

No, it might move around a bit, but over time it will increase significantly because of the fundamental and serious structural flaws in the US economic situation and consequent weakness in the US$

Answer 10

It could go up as well as down - you just never know.

Answer 11

never. Unless the sun set at East one day.