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I've heard about many analysis by economy experts who are talking about the global economic crisis in 2020. According to them, in upcoming years, the prices of gold will also rise and many countries are converting their paper currencies into gold. First of all, tell me your views on this. Secondly, what do you think about the rise in the gold price? Do you think gold price will increase in terms of investment in gold? Or you are thinking there are chances of reduction in gold prices in upcoming years?
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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.
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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.
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