Will an ounce of gold ever go down?

Question

I think Comatose28 is being a Smart A**

The question is in the Investing section not the Science section. So, I am talking about the price of an ounce of gold. I hear it's around $700 now.

Answer 1

I'll buy some gold from you for $700 an ounce.  How much you got?

Answer 2

Absolutely.  It has declined in recent times, even as it is experiencing unprecedented highs.  Gold is an inflation hedge and has seen great interest in the last five to six years.  The important thing to remember is that commodities in general were flat for decades prior to the run up that has been seen in the 2000's.

Answer 3

Im sure that there are going to be a myriad of different opinions on what will happen with the price of gold, but I really dont think that the price will decline over the long run. Sure, there will be pull backs along the way however, there is an ever decreasing amount of gold to go around.

Second, world economies are now better than they were 6-10 years ago. People in places like China, India, and other rising 3rd world countries are now beginning to gain a middle class/accumulate some wealth. Those people are going to want jewelry and other gold products, putting more pressure on the demand side.

Third, if one traces back gold prices from now to the 70's, and accounts for inflation, gold should be near $3000.

That doesnt mean it will get that high anytime soon, but these are just a few reasons I believe gold over the long run will continue to rise.

Christian Nago

CEO & Chief Investment Officer

http://www.intrepidtradings.com

P.S.

Weigh is irrelevant when measuring mass. Thats physics 101. 1 pound of something here on earth wont measure 1 pound on the moon. But the mass will be the same.

Answer 4

Assuming that you mean the price for an ounce of gold, the answer is no, not unless there is another gold rush.  The price will just go up both buying and selling.  Otherwise, if you are asking the question literally as you stated it, then no an ounce is an ounce no matter what it is, just like a pound of lead and a pound of cheerios weigh the same amount: one pound.