Why do you think the price if gold has sored so much?

Question

OneViewpoint · Accepted Answer

Equity and debt market instability, a global trade war launched by the US disrupting trade relationships and driving up costs, 2 new wars launched by the US in Venezuela and Iran, the US threat to invade Greenland and annex Canada by military force.

In a word single word RISK.

The global financial markets see a massive increase in risk and people have always seen precious metals as a "safe" investment in bad times. It's a stupid strategy but all the lemmings are running off the cliff again right now. A lot of them will get wiped out when metals prices crash again.

Zack-Bann · Accepted Answer

The USD is in a shaky place so is the euro
Not to mention all the uncertainty and wars: Russia vs Ukraine, Iran vs Israel, Afghanistan vs Pakistan, the list goes on…

So countries start stacking up on gold because it’s the only self insured currency (or at least the best one)

And the more they buy the higher the price goes

Nik1hil · Answer

Gold is Rare in its nature and long Term Demand of Gold Just Spiked a lot at interval of 5-20 years term..

To meet that Demand enough GOLD cannot be Mined.. and Other way to meet that Demand is by Manufacturing Gold from Mercury..

Which can be done by creating a Plant to make Gold in 2-3 years.. but it has an Issue..

That New GOLD is Radioactive and Takes 20yrs to Cool down it's Radioactivity to become usable..

So for next 5-20 years there will be Scarcity of GOLD to a Very High degree and that's what is Causing the Spike

Even if they Start making GOLD today, It will still take 20 years for that Gold to be Available in Market.

Telekinetic-Potato · Answer

The Russian FX reserve being frozen the g20 summit kinda put the writing on the wall that gold is functionally about to be the world reserve currency. Central banks are buying it up like crazy as the USD starts to show signs of not being as stable as these banks would like.

Gold on the other hand has been (at least in my personal opinion) almost a rock solid measurement if you calibrate it against inflation in the general sense of the word.

Anonymous · Answer

same with silver. historic highs. part of it is countries stockpiling it. part is economic uncertainty with everyone scared of the prices of material goods going out of control, and part is manipulation. the crooked ceo of JP Morgan Chase (jamie dimon) had to pay the largest fine in history for his manipulation of the silver market. It was over $1 billion fine, but small compared to how much the company is making by manipulating the price, so there's no real incentive to stop. Realistically, you could say that precious metal prices just made a jump to catch up to the rise of inflation.

If you wanna get geeky, the demand for gold and silver as well as other metals has increased substantially with the Ai boom. those metals are used in the processors and other electronics. And you've probably heard or notices the prices for those things have skyrocketed over the last year or two.

Agape93 · Answer

Currency fluctuations. Russian currency is all but worthless so they have to spend or trade more hard assets like gold to fund themselves and the war. That massive dump of gold makes it fluctuate.

Then you get folks like me who see the way the world is and buy up gold and silver as a bulwark against hyperinflation and to barter. That makes scarcity which drives up the price.

Then good old corporate greed.

noohair · Answer

The world votes on the value of the dollar every weekday on global markets by posting the buy/sell price for many comities. Gold has been money for thousands of years and where ever you go in the world, everyone knows what gold is. Out government is borrowing and spending at a pace that disturbs many people so they vote against the dollar by buying gold. As the demand for an item goes up, the price goes up. This is economics 101.

Static_In_The_Attic · Answer

Gold Fever is going on again & investors are treating gold as a safe haven against global economic uncertainty. Banks & people are buying it driving up the price.

Levin · Answer

Limited supply, I guess. Western governments have taken it upon themselves to rack up crazy amounts of debt, and inflate currencies to criminal levels.

NathanDavis · Answer

speculation is just another of America's favorite sports... and combine that now with gambling... and this is what you get, lol

DryGermanGuy · Answer

War in Ukraine Trumpian chaos and incompetence 2.0 Future conflicts in Taiwan, Iran...

ElenaSeluna · Answer

Because it’s something real and materialistic that people gave it value, Unlike the dollar, which they can print at any time.

Likes2drive · Answer

Weak dollar, inflation, bad global economy, so many things contribute to it and it’s being used up in manufacturing for certain things and Electronics, I know I certainly can’t buy any of it at the prices that it’s at now

ABitShattered · Answer

It's a more consistent and safe store of value. If the price of gold is going up it's usually because it's being heavily invested in. I would reckon it's from overall turmoil in the world

RavVid · Answer

It is a fear response to flee to a safe haven.

exitseven · Answer

we are entering a cashless society and people want a hard asset to have in case things go sideways.

Surely · Answer

I heard that the price of gold was directly proportional with the national debt!  Truth or not? I can’t say!

FunkyMonkee · Answer

Trump is back in charge, baby!!

guywithafetish · Answer

Because everyone is buying it and putting it away. The demand is getting high for gold

Hagar88 · Answer

Buy low sell high

CupcakeTheDestroyer · Answer

Did you mean soared or soured?

jamesgoldman · Answer

War and economic woes

Anonymous · Answer

"Soared"

Sal_Monella · Answer

Quantitative Easing/printing money.

Staximus · Answer

Because people are stupid

LC75LC71 · Answer

Horny men thought AOC said Gold New Deal.

Cidknee · Answer

Possibly Trump related.

Why do you think the price if gold has sored so much?

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