Buying gold

Does Veeky Forums think buying gold is good investment?

no but i did buy gold when it was lower waiting for the right moment to cash out.

Gold and silver are going down right now. How long will the downtrend last?

I know it will rebound in the long term since this is an election year and all.

more accurately the USD is going up right now but for how long it will last?

No.

Gold doesn't have enough supply to be used as world currency at its current price. You'd have to expect that to rise dramatically for it to become viable.

In other words, the only real way you should invest in gold is if it possibly could become the reserve currency. Because then the price would have to go up dramatically to account for this.

Since there's no signs of a switch, I'd say no.

>Gold doesn't have enough supply to be used as world currency
you do realize that there is about a quadrillion ton of gold on planet earth to say the least right?

>There is no shortage of gold on earth. Current scientific theories estimate that there is enough gold in the core to cover the surface of the earth with a 4 meter thick layer of pure gold.

>in the core
I kekked

it comes up you know with lava and shit.

Lol

buy copper.

What will come sooner: asteroid mining or core extraction?

boring

bitcoin is better, sure you can lose more, but you can win more

gamble or stay a cuck law

>buy gold now
>wait for market crash after the election of President Trump
>enough panic retards flock back to gold in the aftermath to catapult value
>hold until equities bottoms out
>????
Easy.

probably asteroids much easier, but like i said a big vulcanic erruption will bring a shittons of heavy metals to the surface. maybe an entire lake of gold who knows.
saying shit like gold is scarce is retarded. only thing more abundant would be iron.

The number of lakes of pure gold created by volcanic eruptions during the entire 3.5 billion years history of life on Earth is ~0.
There is more gold/ton in your city's sewage than in the average lava flow (because Jewelers literally shit gold), it's just that there is more lava in the mantle than water in every ocean combined. By the time the Yellowstone supervolcano pumps several trillions' worth of gold up here, the entire surface of the Earth will be a sea of fire.

For that matter, conservative estimates find 15,000 tonnes of gold in Earth's ocean water.

well the thing with gold is it's really heavy working against it even in lava. gold sinks even in molten iron so we would need a big chunk (they are swimming down there as such) propelled up by magma into a chamber and then erupt. so yeah it's not very likely but theoretically can happen.

>theoretically can happen.
You're holding out for an event that may not happen even once in a billion years, let alone any human timescale.

Granted you often find volcanoes throwing up a few pounds of gold, usually in non-exploitable forms, but that's it. There's no chance that even the most catastrophic eruption will double the world's gold supply any time soon, we need it to do more than double before it can replace monopoly money as currency. We will get hit by dozens of Extinction-level meteors before that happens.

Where does One find these glorious "Volcanoes of Gold" you speak of??

Why copper?

in a place where no man needs nothing.