Gold Rate Predictions for 2020

MayCaesar

I believe that in a very nearest future gold prices will plummet to the point where gold will no longer be considered a precious metal. The economy is becoming more and more pragmatic, as cryptocurrencies and decentralised cloud systems are taking over everywhere. Under these conditions, resources having high inherent practical value, such as computational power or confidential information, will rise in value, while resources having mostly decorative purposes will become irrelevant (and yes, I realise that gold has its uses in electronics, but that is not why it is currently as expensive as it is). Especially when materials appear that look and feel exactly like precious metals, but are very cheap to produce on factories.

Granted, economical predictions are infamously unreliable, so I may be completely wrong. But I would not invest in gold nowadays. It is better to invest in sources of income that are almost guaranteed to give high return in the nearest handful of decades: index/mutual funds, real estate, stable stocks, various assets on developing capitalist markets, etc. It is also a good idea to create some "active-passive" income by organising a network of wholesalers in partnership with Amazon or eBay.

I am currently especially interested in the stocks of Japanese robotics companies. From what I expect, once those companies become mainstream, their worth will soar, and Japan can very well become next America in 20-30 years in case no competition arises and they continue dominating the industry.

BonitaVanhooser

I agree with you that cryptocurrencies are getting popular rapidly but if we look at cash currencies then we would analyze that gold was at the back. With all kind of inflations, I saw the increment in the price of gold. Actually, I was willing to sell some of my gold saving to any good gold buyer like this who accepts gold in all conditions and offers good rates. However, when I consulted with some financial experts, they suggested to use cash saving and keep the gold because prices are going to be very high.

Especially, after Brexit deal, there are chances of increment in gold rates. Secondly, according to this article, China is also working to launch its digital currency that could also hurt the value of other currencies. According to many Chinese sources, they would use gold at the back of their digital currencies. On the other hand, some blocks in the world are thinking to trade in gold. So, what do think in this kind of situation the value of gold would increase or decrease?

In my opinion, it would also be tough to discredit gold from the list of precious metals because it is still being used in many electronic devices and high technology gadgets.