Gold 2024: How low can it go?

[Kitalon]

Something that I've been wondering is how low the price of gold might drop to during 2024. If so when.
Do you think it's possible that it could drop as low as £1500 per ounce, or aren't we likely to see prices like that again?

It would be interesting to hear your thoughts, projections and prophecies for the new year. 🤔

[Ignorant]

1 hour ago, Kitalon said:

Something that I've been wondering is how low the price of gold might drop to during 2024. If so when.
Do you think it's possible that it could drop as low as £1500 per ounce, or aren't we likely to see prices like that again?

It would be interesting to hear your thoughts, projections and prophecies for the new year. 🤔

I believe the most accurate answer to your posed conundrum is that the price of gold in 2024 will drop to as low as it will. Whatever that may be.

[Bigmarc]

How's the gold price usually act when there is a USA general election?

[pmbug]

5 hours ago, Bigmarc said:

How's the gold price usually act when there is a USA general election?

As of the moment, the Fed has been signalling to markets that they are not likely to raise interest rates further.  Markets are expecting a rate cut mid year next year, but the Fed has indicated that any cut might come later.  It's possible that the Fed will face increasing political pressure to juice (from Biden/Democrats) or throttle (from his opponent/Republicans) markets as we get closer to November 2024.

Will the Fed be an independent actor, or intervene with monetary policy to influence election outcomes?  I don't know, but it's something to consider. 

[SidS]

£1200

[Britannia47]

2 hours ago, SidS said:

£1200

No one on TSF has a crystal ball, but I would like to see it spiral down a lot further than £1200. We both remember when gold was a lot lower, I mean really low - well below £500, but that’s unlikely to happen. But a much lower price would allow more TSF members to get on board…..

[SidS]

31 minutes ago, Britannia47 said:

No one on TSF has a crystal ball, but I would like to see it spiral down a lot further than £1200. We both remember when gold was a lot lower, I mean really low - well below £500, but that’s unlikely to happen. But a much lower price would allow more TSF members to get on board…..

Oh yes I remember it a lot lower sub £300 and I used to have to check on Teletext for the up to date price, either that or buy the FT.

[James32]

1 hour ago, SidS said:

Oh yes I remember it a lot lower sub £300 and I used to have to check on Teletext for the up to date price, either that or buy the FT.

In your day... they sent text messages on stone tablets 😆 

[SidS]

2 minutes ago, James32 said:

In your day... they sent text messages on stone tablets 😆 

They did. 😁

[Fenlander1]

£1500 again never say never but things are starting to stabilise around the £1580 to £1600 mark it will only take another banking issue or conflict to see a rise 

[PhilB]

5 hours ago, Britannia47 said:

No one on TSF has a crystal ball, but I would like to see it spiral down a lot further than £1200. We both remember when gold was a lot lower, I mean really low - well below £500, but that’s unlikely to happen. But a much lower price would allow more TSF members to get on board…..

I suspect many would lose the desire to buy once prices had been falling significantly for months or if all at once also! It's human nature! 

[PhilB]

My chrysal ball says we won't see 1500 gbp again! 

[CoinCupboard]

I hope to see below £1500 again, that when I'll be pulling a trigger again. 

It might be a bigger trigger than the last few <£1500 dips. 😅

[GoldDiggerDave]

Does it really matter.....and would it change your life  if you buy within £1400-£1600 this year?   Fair enough if you are buying 20 million quids worth a time, how many oz are people buying the average joe stacker  I doubt they are buying more than an oz per month. 

In the 2 years between 2017 and 2019 it was roughly £1000-£1200 per oz did it matter the day or month  I bought within the 730 day period? Don't need pie chats, don't need some bozo on YT telling me its going to the moon, and I certainly did not need to  check gold price 15 times a day. 

Ive seen people fall into a bit of a trap, they buy gold then they expect it to do something over night and when it doesn't they almost all sell at the wrong time, for the wrong reasons.  

The biggest question I'd be getting people to answer especially now when inflation is stripping some people bare,  " can you afford to hold the gold you are buying regardless of other finical and inflationary factors"?   You have to buy gold and almost forget about it and not worry for the next half  if not full decade.

 

 

 

 

 

 

[RDHC]

1 hour ago, GoldDiggerDave said:

You have to buy gold and almost forget about it and not worry for the next half  if not full decade.

 

 

 

 

 

 

Good advice - except that some of us may not be around that long!

[GoldDiggerDave]

2 minutes ago, RDHC said:

Good advice - except that some of us may not be around that long!

If that’s the case then sell it all.    I’ve debated this one out with a few gold stacking friends,  at what point do you sell it?   No point waiting to sell it into your late 70’s if your dream was to climb the Himalayas for example as no amount of wealth will ever buy us back our youth. 
 

The problem with gold most normal working people can’t hold enough for it to be life changing, so they invent/hope for a scenario where a very small amount will be worth 100’s x more. 

Honestly not dancing on anyone’s hopes or dreams here,  if gold gained 50% or likewise lost 50% from the time you bought it would this swing either way be life changing?   

 

 

[RDHC]

On 12/12/2023 at 08:10, GoldDiggerDave said:

If that’s the case then sell it all.    I’ve debated this one out with a few gold stacking friends,  at what point do you sell it?   No point waiting to sell it into your late 70’s if your dream was to climb the Himalayas for example as no amount of wealth will ever buy us back our youth. 
 

The problem with gold most normal working people can’t hold enough for it to be life changing, so they invent/hope for a scenario where a very small amount will be worth 100’s x more. 

Honestly not dancing on anyone’s hopes or dreams here,  if gold gained 50% or likewise lost 50% from the time you bought it would this swing either way be life changing?   

 

 

Again, good logical thinking. However, there is an alternative: leave it to one's children.

Edited December 16, 2023 by RDHC

[SidS]

19 minutes ago, GoldDiggerDave said:

...at what point do you sell it?

Sell? 😲😁

Owning a lump of gold is pleasure enough is it not?

[MBTPSilver]

We could certainly hit £1500 again, and I think £1300/£1400 is possible should interest rates stay at this level for most of 2024, given markets are expecting a cut. I don't see gold going much lower than that though.

[Britannia47]

40 minutes ago, GoldDiggerDave said:

If that’s the case then sell it all.    I’ve debated this one out with a few gold stacking friends,  at what point do you sell it?   No point waiting to sell it into your late 70’s if your dream was to climb the Himalayas for example as no amount of wealth will ever buy us back our youth. 

How dare you talk about us ‘oldies’ like that! having already climbed in the Himalayas (base camp on Dhaulagiri) Kinabalu in Borneo, and Kilimanjaro in Tanzania. Also been to Afghanistan and the Falklands so have already achieved ‘my dream’ of experiences. Been collecting gold for over 25 years = about a kilo+ and have never sold a single gold coin. I keep what I buy and don’t worry about when to sell. What’s this ‘liquidity’ everyone talks about?!!…….😁😇

 

 

[GoodAsGold]

10 hours ago, Britannia47 said:

How dare you talk about us ‘oldies’ like that! having already climbed in the Himalayas (base camp on Dhaulagiri) Kinabalu in Borneo, and Kilimanjaro in Tanzania. Also been to Afghanistan and the Falklands so have already achieved ‘my dream’ of experiences. ….

 

 

It’s amazing where a free bus pass can get you these days 😏

[sovereignsteve]

There'll be more than a few here who remember around £700 in mid-2015 during the life of this forum. Is it really 8 years? It only seems like yesterday, but still, it's a decent enough time and will be before the majority here started stacking.

No idea where I'm going with this but it's nice to reminisce and £175 sovereigns has a lot to recommend it. 😁

[richatthecroft]

1 minute ago, sovereignsteve said:

There'll be more than a few here who remember around £700 in mid-2015 during the life of this forum. Is it really 8 years? It only seems like yesterday, but still, it's a decent enough time and will be before the majority here started stacking.

No idea where I'm going with this but it's nice to reminisce and £175 sovereigns has a lot to recommend it. 😁

Good to see you back Steve

[richatthecroft]

On 12/12/2023 at 08:10, GoldDiggerDave said:

Honestly not dancing on anyone’s hopes or dreams here,  if gold gained 50% or likewise lost 50% from the time you bought it would this swing either way be life changing?   

Agreed, but the odd holiday or treat in retirement on the back of saving from something that’s nice to hold in your hand in the meantime would be satisfying.  
 

[MonkeysUncle]

I don't expect a significant movement either upwards or downwards unless we have some proper shenanigans. Covid II, The Return of the BS, or Winnie the Pooh becoming US President or Vlad invading Georgia or the Chinese flooding the market or some such.

I've been perched on the fence, as usual, since I got my 2023 bullion Sov. Likely I'll hop off the fence for a few minutes to add a 2024 bullion Sov to the stash.