Will Gold reach back to 1000?????????

Question

People said there are inflation and gold price would go up 1000, 1200, 1600.. Is it possible ?? What do you think by the end of 2008

Answer 1

No.

Answer 2

No.  No real good reason for it to go real high.  Can you eat gold?  No.  Can you put in your gas tank to power your car?  No.  It is nothing more than a way to store wealth.  And, not a very efficient one, at that.  It's main problem is that people do not really need it.      Jack

Answer 3

I believe it will go back to 1000 and even beyond in the near future. I think its going to be over 1000 by years end. Having said that, Ill say this. It really doesnt matter what the price of gold does. Look at gold not in terms of price but as an insurance policy. That insurance policy is to preserve your buying power. If gold goes down in price thats fine because it means that all other prices are going down as well. Say you buy gold at 1000 in 2008 and in 2010 its at 500. If that were to happen then prices across the board would be going down as well. Gas in that example would most likely be back to around 2.00 a gal. Do you see that happening. Because of the way fractional reserve banking works we are currently in a recession DEFLATION not inflation. The writedowns in the banking system is eliminating and retracting the money supply. I expect that to be reversed by the threat that the FED made several months ago. They will create as much money as possible to keep a deflation from happening. I expect to see another stimulis package from the Federal Government in the next year especially when the rest of the nation learns of the package that the State of Alaska just passed. Once that makes headlines I wouldnt be suprised at all to see something like a refundable tax credit for filers at tax time if there is the hint that the banking system may freeze up.

Today I just called Monex and placed an order or another 100 ounces of silver. I was told that one of the brokerage firms just released a report that said they expect the dollar to be at record lows in October. I think this is correct. I think as a result the Federal Government will try to keep the deflation from occuring. They dont want the national debt to increase in value through a deflation so they will INFLATE the system to keep the debt from gaining value. I think they will pass another stimulis package and the Alaska plan will be used as the basis once that news hits the national press. Alaska sending out 3200.00 to every resident next month is going to create alot of news headlines in a national economey that is in a deflation where access to credit is becomming harder for many.

So in light of all these events I do expect gold to be over 1000 by the end of the year and silver to outpace gold as it has been doing all along. Thats why Im buying silver. My 3200 from the State of Alaska will be going into silver as did my 600 federal stimilus package money back in May.  

Answer 4

What happened you bought Gold at 990?