Can and will gold go up $1500-2000 an ounce?

I saw today gold was 1000 dollars an ounce and was wondering if it is still going to up to around 1500 to 2000 dollars? Is it likely and what are the chances? What things affect the price of gold? If I invest in gold at a 1000 an ounce and if it goes up to 2000 an ounce then won't I make double? Please answer with serious and detail replies. Thanks in advance for all who answer. Best answer is 10 points!

That's a risky move if you ask me. Gold has historically been a horrible investment, languishing for decades and then experiencing a sudden spike.

In my opinion, you'd be buying near the top. The time to buy would have been one or two years ago.

UPDATE - Pondlady's answer makes no sense at all. If gold does actually go up, it makes sense to invest, because it preserves the value of your money.

The price of gold will continue to rise, but selling it will result in many dollars that are not worth very much. I would not buy it now because it is so high. By the time it doubles in price, the USD will be worth much less than it is now and you will not make much, if any profit, therefore losing money overall.

I agree with your other respondent. Gold, historically, is a terrible long-term investment.

It may go much higher, but I personally believe the really good money has been made in precious metals already.

1) Yes.
2) Yes.
3) The chances are 100% (It could take many years, tough)
4) Supply and Demand
5) Yes.

What's the point? If gold went up double, cost of living would skyrocket too, so what money did you make? That's right, nothing.

Based on the above responses, gold has MUCH further to go up. As a contrarian investor, you want the average investor (like those on this board) to be negative or neutral on the idea. It is interesting how people get negative on gold when it gets to a psychological level like $1000. My guess is that given this negativity by the average investor, it will blow right through it. I would definitely recommend gold even at $1000 and think that $1500-2000 is highly possible.

I'm feeling even more bullish now on gold after reading the responses you got.

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