gold $2,000 next year, page-10

  1. 1,544 Posts.
    rcponting, it seems you may have never been to India. Indians don't buy gold jewellery for fashion. Very many Indian families have the bulk of their wealth in gold which indeed is worn. Repeat: gold jewellery is their wealth. Likewise Vietnamese regard gold as money and indeed I had a Vietnamese one ounce gold coin - it was flat and rectangular.
    True Americans and English regard gold jewellery as a luxury and sales have been reduced in those countries but not in countries which regard gold jewellery as a store of wealth.
    You may not be familiar with the term "running money" either - gold which can be carried in the event of an emergency, like leaving the country.
    Most of the gold sold is as a store of wealth not frivolous jewellery. You need to understand that when making an assessment of the future price of gold.
    I think you are probably wrong on both the strength of the Australian dollar and very much so on the price of gold. The only reason the Australian dollar would go up to "70c ish in the first quarter" is if the US dollar dives. That is possible.
    If that happened however we'd see the price of gold rise commensurately.
    You will see that gold has been behaving quite differently from other metals and commodities. There's a reason for that.
 
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