For now – down. But why? It’s been going up for years…and people constantly come into my store and say “Yeah, but it’ll go back up again…” as if they have some insight that I don’t have…
Man, if only I could be as confident…it’ll go back up? When. Tell me when it is and then I can be confident, too!!
But the truth is nobody knows when the price of gold is going back up…it was down for about 25 years before it took off this last time…from about the late 80s until 2006…so I’m not sure when anyone thinks it’ll go back up, but I’m happy to remain blindly optimistic…In the meantime, I noticed that the same people who are saying this are actually SELLING gold while they say it. So apparently the optimistic timeline doesn’t meet their financial needs either.
Truth is, nobody knows what’s going on with the price of gold and silver. I still buy it. Apparently a lot of Indian and Chinese people are buying it. Demand has never been more pronounced in those countries, but that hasn’t kept the price from plummeting.
I’ve yet to see any indicators in our global economy that indicate that things are markedly improved, other than constant money production by the fed, but apparently everything is going just great. That’s why gold, the safe haven investment is dropping in price. Because economically speaking, things are so rosy.
I just don’t get it.
Ask yourself if you feel like things have really turned the corner. Is your family better off now than say, five years ago? If you’re heavily invested in the stock market, like just 5% of the population, then yes…life is good. You’re completely whole and you’ve actually gotten back to where you were before the crash.
But if you’re like the rest of the US, the other 95% who actually do work for their wages, actually have to spend time earning their money and then buy diapers and tires and pay for swim lessons and such, then you’re not seeing things in quite such a cheerful light. To you, things haven’t really improved all that much. They’re better than they were, but not by much. Still paycheck to paycheck and still wondering when the American Dream is going to happen for you…
I hear ya. As far as I’m concerned, the price of gold going down doesn’t actually reflect an improved economic condition in our country. It’s just another arbitrary indicator of the disconnect between old economy signals and the new, Fed-led economy. There’s no telling what’s going to happen next and it’s going to be a wild ride.
Hang on.
