Generally up but we are in unprecedented times and the next crash will likely be unlike anything we've ever seen. It will still be better to hold gold or silver than any fiat currency though.
What happens to the price is somewhat irrelevant though. What matters is the buying power associated with an ounce of gold or silver. If the dollar tanks, an ounce of gold may be worth $20,000 next year but that doesn't mean it will buy you what $20,000 will buy you now. It will be worth $20,000 because the dollar is worth less.
In 2019, prices were doubling every 2 days at the peak of Venezuela's hyperinflation. Those who had their savings in Venezuelan Bolivars got wiped out. Those who had gold maintained their wealth. I believe the only thing that's keeping the same thing from happening in the US is the fact that the world still has faith in the USD. If that changes, things could get messy in a hurry. If Russia is actually doing this, it may be the beginning.
The Fed's actions since 2020 have been so incredibly reckless I feel like the end is near one way or another. The optimist in me feels it will be okay, regardless of your savings or debt. I think there's an even Greater Reset in the works. I think we'll like how this movie ends. But if not.. It can't hurt to prepare accordingly.
Once the system crashes what happens to gold price? Up or down? Impossible to know?
Generally up but we are in unprecedented times and the next crash will likely be unlike anything we've ever seen. It will still be better to hold gold or silver than any fiat currency though. What happens to the price is somewhat irrelevant though. What matters is the buying power associated with an ounce of gold or silver. If the dollar tanks, an ounce of gold may be worth $20,000 next year but that doesn't mean it will buy you what $20,000 will buy you now. It will be worth $20,000 because the dollar is worth less. In 2019, prices were doubling every 2 days at the peak of Venezuela's hyperinflation. Those who had their savings in Venezuelan Bolivars got wiped out. Those who had gold maintained their wealth. I believe the only thing that's keeping the same thing from happening in the US is the fact that the world still has faith in the USD. If that changes, things could get messy in a hurry. If Russia is actually doing this, it may be the beginning.
The Fed's actions since 2020 have been so incredibly reckless I feel like the end is near one way or another. The optimist in me feels it will be okay, regardless of your savings or debt. I think there's an even Greater Reset in the works. I think we'll like how this movie ends. But if not.. It can't hurt to prepare accordingly.