Will gold go down soon
Gold will continue to edge higher over the coming years, not because of speculation or inflation fears, but because it will act as a hedge against government instability and incompetence, as it has done for thousands of years. If you are trading and trying to make a quick buck, don’t get upset if gold surprises to the down-side in the near-term. By Edmund Moy and Michael Stojsavljevich Gold prices have grown in value from the $400 level to over $1900 in the span of 10 years. But since last September, gold has been sliding downward and has been in a holding pattern around $1600 since about October of 2011. Bottom line: (1) If you believe the government will get it together, don't buy gold because over time it will go down in value. (2) If, on the other hand, you feel the promised “change” we are experiencing with the new administration means “business as usual” with more taxes and more government, gold should gain dramatically in value.