Is The Price Of Gold Going To Recover

[Aree Wongwanlee]

since our dollar is backed by a gold

No, it doesn't. The USD had not been backed by any kind of gold for a very long time. The USD is essentially all paper. The only thing which keeps the USD in the market is simply the economic clout of the US. As for the USD-gold relationship, they tend to go in opposite directions. When the USD goes down, gold goes up. When the USD goes up, gold goes down.

 

[Peachdejour]

No, it doesn't. The USD had not been backed by any kind of gold for a very long time. The USD is essentially all paper. The only thing which keeps the USD in the market is simply the economic clout of the US. As for the USD-gold relationship, they tend to go in opposite directions. When the USD goes down, gold goes up. When the USD goes up, gold goes down.

Hmmmm.... True. We like to believe it's backed by a gold standard then. Lots of debt. Okay. It used to be backed by a gold standard in a fairy tale time when we had a budget and a Congress that didn't act like baboons.

 

[Kamarsun1]

I know that gold is down right now, but I am curious if you think the price of gold is going to go back up? I know gold seems to vary quite a bit, but with the market being unstable does this mean Gold will recover to the point it was at several months ago.

It's hard to say if gold is going to go back up, and even harder to say when. I hope it stays low enough for me to save up and buy some.

 

[Kamarsun1]

No, it doesn't. The USD had not been backed by any kind of gold for a very long time. The USD is essentially all paper. The only thing which keeps the USD in the market is simply the economic clout of the US. As for the USD-gold relationship, they tend to go in opposite directions. When the USD goes down, gold goes up. When the USD goes up, gold goes down.

Gold was the original source of money for awhile. Now we have debt paper money, which is packed my nothing. I would like to see gold come back as currency, but that would change the game, and the powers that be don't want that to happen.

 

[Morvack]

I think it will recover. Gold has never been without value all throughout history. It will always go up in value. It's price is only being negatively affected right now due to our current economic state.

 

[Aree Wongwanlee]

Gold was the original source of money for awhile. Now we have debt paper money, which is packed my nothing. I would like to see gold come back as currency, but that would change the game, and the powers that be don't want that to happen.

Right. I don't see how, for example, the USD would go back to the gold standard. It is just something that is not going to happen. The USD has been rising on hot air all this time. Why pay for gold when hot air is free and in plentiful supply?

 

[joshua minaya]

I know that gold is down right now, but I am curious if you think the price of gold is going to go back up? I know gold seems to vary quite a bit, but with the market being unstable does this mean Gold will recover to the point it was at several months ago.

I am sure with time the price of gold would bounce back. This is a fact because over time Gold always bounces back.