Gold Bust could see $1000/oz

[Seleskya + 50]

Analysts saying gold could 'retest lows of $1,050 an ounce' 

"On a secular basis, commodities go through periods of 20-year bear markets on average - we get stuck in the year-to-year but the history of commodity super cycles is we still have some time to work off supply - in the case of gold, you are looking at lots of supply," -- John LaForge, Wells Fargo (TheStreet). 

[LAOIL + 33]

prices now at their lowest since July

[Meanwhile + 49]

When the price of Gold drops look to India since it is the world's largest buyer of Gold

[JohnAtronis + 78]

My theory was that the demand for gold is lower due the Bitcoin. But I guess I was wrong

https://www.cnbc.com/2017/12/12/bitcoin-futures-launch-not-taking-away-gold-demand-goldman-sachs-says.html

[Joanna + 68]

even in the bitcoin community they are now admitting that bitcoin is not a working payment system, they call it now a "value storage" system. I guess, same thing as gold

[JohnAtronis + 78]

Gold has been around for thousands of years and will be here in thousands more. It still has it's place in this brave new crypto world.

[Meanwhile + 49]

1 minute ago, JohnAtronis said:

Gold has been around for thousands of years and will be here in thousands more. It still has it's place in this brave new crypto world.

Gold market is completely rigged with no price appreciation. Can't create and dump paper Bitcoins = Unrigged

[Stephen + 67]

2 minutes ago, JohnAtronis said:

Gold has been around for thousands of years and will be here in thousands more. It still has it's place in this brave new crypto world.

Horse traders said the same thing to their investors after the invention of the automobile. I wonder what happened.

[Joanna + 68]

On 12/12/2017 at 8:47 AM, Seleskya said:

Analysts saying gold could 'retest lows of $1,050 an ounce' 

"On a secular basis, commodities go through periods of 20-year bear markets on average - we get stuck in the year-to-year but the history of commodity super cycles is we still have some time to work off supply - in the case of gold, you are looking at lots of supply," -- John LaForge, Wells Fargo (TheStreet). 

I prefer Diamonds anyway

[Meanwhile + 49]

On 12/12/2017 at 8:47 AM, Seleskya said:

Analysts saying gold could 'retest lows of $1,050 an ounce' 

"On a secular basis, commodities go through periods of 20-year bear markets on average - we get stuck in the year-to-year but the history of commodity super cycles is we still have some time to work off supply - in the case of gold, you are looking at lots of supply," -- John LaForge, Wells Fargo (TheStreet). 

Looks like analysts are only guessing. Commerzbank forecast that gold will average $1,325 an ounce in 2018, with an average of $1,300 in the first two quarters of the year and $1,350 in the final two. 

[JohnAtronis + 78]

Bitcoin, Harvey Weinstein and Hurricane Irma most searched on Google

[LAOIL + 33]

well, bitcoin is clearly the best of those three

[LAOIL + 33]

and gold, well, I can think of a few goldminers who are getting into bitcoin as a hedge

[llessure + 3]

Gold will always be a store of value.  Interestingly, the price of a top-line (non-tailor-made) men's suit has always been close to the value of 1 OZ of gold.  Only when the U.S. severely regulated the price of oil ($35 per oz) did this relationship vary.  So...aside from possibly winning a trivia contest, how does this information pertain to the gold market?  Clothing is extremely sensitive to swings in the economy as well as inflationary changes.  IMHO it is still the best inflation/calamity hedge.

[Rodent + 1,424]

At least gold is tangible. Bitcoin isn't even a "thing".