Will the price of gold continue to go up?

I was wondering if anyone could make an educated prediction on weather or not the price of gold will continue to go up? If so can someone please state why and please only respond with serious answers. Remember that the best answer is worth 10 points. Thanks to everyone in advance for serious replies.

Public Comments

1. it will wither stay at its rate for now, but surely it will raise soon
2. The amount of gold on earth doesn't go up that much. The amount of people who want gold continues to increase. By the laws of supply and demand, the price of gold will keep increasing.
3. The price of gold doesn't go up, it's just money that goes down. Gold will always be worth the same, just our money loses its value, so the "value" of gold "goes up". It would be a good idea to invest in it, though. In the past however many years(just a couple), gold has "risen" by almost two times.People just don't know or don't have enough money in the first place.
4. I follow gold, and I think the price will continue to go up. The financial institutions are just beginning to feel the pinch. Government bailouts, falling home prices, rising unemployment, rising oil prices and the growing recession are all going to trash the dollar against other currencies, but particularly against gold.
5. Yes, it will continue to rise. But of course, we could realize that gold has very little commercial use compared to other metals and stop basing our entire monetary system on how shinny something looks.
6. When the dollar goes down gold and silver rises. When the value of the dollar does up gold comes down.. My 05 silver doubled and i didnt know it, But the forcast is for 1 oz to hit 1000 and oz. within 6 months,, Ive purchase istanbul gold and south african as a hedge,as well as the euro,, we will see the dollar fall more in 08 and stable in 09.. It hit 915 one day and fell before closeing.. It would be a good quick investment, and take posseion of it .. dont get a stock certificate for it,,, you want the gold in hand,,
7. Yes Gold will go up. Even though markets are down today. Reason: #1 Middle-Eastern countries have a high demand for gold. #2 India and China have a fast growing-emerging middle class and increasing upper class who will with no doubt increase the demand for gold. #3 Lastly with the financial problems with US banks and recession, gold mines will find themselves properly funded because gold is the safest place for all investors when times are turbulent in the markets.
8. Here's a trader's saying: "Trees don't grow to Heaven - neither do stocks, precious metals, commodities or anything else worthwhile." Everything has its cycle. Everything rises and falls in various cycles and at various times. Thanks for asking your Q! I enjoyed answering it! VTY, Ron Berue
9. If I knew that answer for sure, I would be far too rich to spend my time on Yahoo Answers. My guess is that it will probably increase some, but not as rapidly as it has recently. An unstable economy and possible inflation are the primary things that cause gold to increase.
10. definitely goes up. why because of wars,scarcity in the market, hoarding by individuals in the form of ornaments,biscuits,coins 2. wekening of the dollar increase in cost of crude etc 3 never on the decline