Investment Advice: Can Gold Go for $2,000?
From today’s UK Telegraph:
Investment advice: Can gold go for $2,000?
You can replace the “gold” with any material object or immaterial service.
You can replace the dollar amount with any other dollar amount.
I remember a headline “Can gold go for $1,000?” from not very long ago. Indeed if you search the web for that string of characters you’ll come up with quite a few articles.
I can recall a time when the world was poised breathlessly on the $400 abyss.
And in my childhood in the Yilgarn Goldfields, 30-ton trucks full of rich ore trundled by the house daily.
Here is a chart of gold prices gleaned from the web.
There obviously was a time when people asked “Can gold go for $200?” and it seems to me that there must have been a time when some prospectors asked “Can gold go for $20?”.
With that in mind, it is fairly easy to predict that there will be a time when people ask “Can gold go for $3,000?” and “Can gold go for $4,000?” and even “Can gold go for $20,000?”.
In other words, the question asked is rather pointless, as the answer will always be YES, regardless of the amount asked, providing that the price is greater than today’s price.
Here’s another question: “Will eggs ever retail for $20 a dozen?”.
Here’s another question: “Will eggs ever retail for €200 a dozen?”.
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