What's Next for Gold?

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Goldielocks: "I do not foresee any country electing to go with the GOLD STANDARD ever but if they do look for about $50 USD per ounce and an order for gold to be sold by a date or pay a penalty. This will be done so that people will SPEND money"
You actually just accomplished making less sense than the BERNANK congrats for that! You say going to a gold standard ANYWHERE is not to be forseen? And what argument do you have for that? The exploding oil prices, the synchronised decline of the euro and dollar or the emmergence of yet another bigtime middle eastern conflict of not ww3? I can not begin to fathom the reality you seem to be living in but i must imagine it to be very lonely. And if for example the US starts "forcing" US citizens to sell at 50/ounce troy so effing what? Do you really think China and the asian market, or the countries trading oil for gold 1 on 1 will accept and take over this price? If you think it's as simple as that you are delirious, this is not the pre war america 30's nor is it the 80's and we have a very dominant and growing asian market for christ sakes! It's not the same game, its not even the same and an immensly bigger ballpark out there, and the old rules henceforth don't apply...

goldielocksretard of AZ 4:05AM March 07, 2012

Looks like we're having gold coins and road kills for dinner again tonight.

Banjo Jim Denny of WV 11:46PM March 06, 2011

Lack of fiscal discipline; that is the culprit and will remain until the Fiat currency (US$) hits "the wall". We wake up and the world doesn't want our only true export - debt. We have major structural issues that the government must monotize to keep calm in the streets (think 45 million people on foodstamps, medicaid, medicare, social security). These high fixed expenses are going to force the hand of the printing press and overall devalue the $ - leading to less confidence among the creditor nations (china, japan, Russia). And one additional small detail will emerge - in 2018 the world will no longer price oil in dollars (it will be a basket of currencies). Gold may make dips along the way - long term it will be $5,000-$7,0000 after the US must either back the $ in gold or give up world reserve currency status and join a world currency. Either way this is bad for the buck.

Denn of CO 8:59PM February 24, 2011

GOLD is not a hedge against inflation!
GOLD has no purchasing power. None anywhere. Not ONE country in the world uses the GOLD STANDARD. At the time a country elects to use GOLD as currency, that country will set the price for GOLD then. With the economic struggles around the world no government will pay the cost per ounce today just to stabalize their country.
At best, the country will give physical gold holders a price per ounce. Those buying up "Gold" in ETF's and other funds will take on a huge hit, costing you a thousand or so per ounce.
I do not foresee any country electing to go with the GOLD STANDARD ever but if they do look for about $50 USD per ounce and an order for gold to be sold by a date or pay a penalty. This will be done so that people will SPEND money. Economies are driven by what the consumer spends.

GOLDIELOCKS of TX 1:17AM February 11, 2011

If Bernanke doesn't raise stop QE2 and raise rates gold will hit 2000 as a hedge against a worthless dollar. Many nations /people making a conscious choice to hold gold ILO $$$$$.

JIM PETRILLO of NY 3:02PM February 09, 2011

If you have been listening to a lunatic on TV selling gold coins, bomb shelters and Armageddon all the pitfalls if democracy gets its way, then you are the suckers that are driving up the cost of gold and the next bubble to burst.
Better cash in your chips before the rest of the low information crowd catches on that they are getting swindled again.

sam of 9:49PM February 04, 2011