http://www.perthmint.com.au/metalprices_bullion_coins_and_bars_buying_selling.aspx

Sounds like they will have it delivered to you via armoured carrier,
Arjay. So you can hide it under the bed, ready for when thieves
rob the house :)

At last, Arjay, some evidence that you actually do some research.

>>Actually in my first calculation I should have compared the price of gold today to our average wages.<<

So you have worked out that today's gold price is very little different, in purchasing power terms, that it was in the 1930s. And over the long term, I expect that it will continue to keep pace - in which case you can expect the gold price to reach $7,000 around about the time the average wage reaches $250,000. Give or take a bit.

The prediction that gold will reach $7,000 has been made by a few people, but with little credibility. James Rickards did, in June.

http://survivalistinvestor.com/date/2012/06

“My long-run thesis on gold hasn’t changed,” Rickards said. “I do see it in the $5,000-$7,000 range over a kinda three-to-five-year period as confidence in paper money begins to collapse. But that’s not something that happens overnight.""

Two years before, Egon von Gruyerz made the same "prediction".

http://www.cnbc.com/id/37550457/Gold_s_Real_Move_to_7_000_Coming_Asset_Manager

"'Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters,' von Gruyerz's latest report for GoldSwitzerland.com said."

Of course, he would say that - he is after all the "founder of precious metals investment and storage company GoldSwitzerland.com"

No bias there, then. Note how he picked a peak price from which to draw his "conclusion". Pretty transparent.

As I have said to one under god on any number of occasions, there is no significant downside to buying gold, except that you have to sell it again in order to release its value. If you had bought at $33 and sold at $1,720 you would have kept pace with wage inflation, plus a little profit to make up for having tied up your capital for eighty years.

In the end, gold is just another commodity, to buy and sell. All the rest is hype.

arjay however is right!
Took a breath but it is true, gold was lent out by people who never had it to lend, not much different than money today.
An interesting thing to think about.
As for predictions?, many predict the bottom will fall out of the world economy and soon.
But some predicted Silver would be twice the price of gold by now.
You can not eat either.
And if we all stop spending and pay debt? we bring the prediction to a reality.
A crash will let debt be unpaid and after a time, let us begin the whole scramble for riches start again,until next time.

Belly makes a good point.If everyone buys gold that means there will be less money circulating in our economy and thus less investment and employment.Gold is only an hedge against the illegal money printing of our private central banks.

Pericles might like to tell us where the $16 trillion in off balance sheet money creation by the Federal Res went in 2008-2009.The real economy in the USA didn't get a boost.As Keiser notes the big boys club are using this money to steal real assets.

I think Keiser got $7000 + per oz by dividing the world GDP by it's population.ie 60 trillion divided by 7 billion = $ 8,571.0

No, Arjay, Max Keiser tells us exactly where that figure came from in his blog posted on 27 April 2012:

"In one of the highest predictions yet made by an investment bank analyst, Bank of America’s MacNeil Curry sees gold prices hitting $7000/oz before ending the uptrend.

[and links to the article]

http://www.commodityonline.com/news/gold-to-hit-$7000oz-bank-of-america-47690-3-47691.html

According to MacNeil, commodity bull markets end with a massive speculative blow off and they don’t end quietly. If gold was topping out, the daily ranges would have span around $200/oz and we have not seen anything like it.

“Until we see price action take some kind of massive speculative blow-off, where prices effectively double in a year or less, I have to maintain a long-term bullish bias. That says to me, we’ll probably see a move in gold, before all is said and done, to between $3,000 to $5,000 (per ounce) and potentially $7,000 per ounce”, Economic Times quotes the analyst from the Market Technicians Association symposium last week.""

And for your benefit here is the original 25 April article referred to in Keiser's blog's link (a bit of pass-the-parcel going on):

http://www.economictimes.indiatimes.com/articleshow/12860204.cms

The calculations were made "Using Elliott Wave counts on a logarithmic chart dating back to 1969..."

we buy gold because we have to balance the investment basket
im poor so i invest in silver gopper nickle [mainly in coin..cause it has rarety price over the metal value..

what people miss is that most 'investers'..in gold dont got the gold

BUT ITS NOT JUST GOLD
http://public.worldfreemansociety.org/index.php/forum/43-general-discussion/109836-you-don-t-own-what-you-think-you-own