Quote:gold will always go up, its a limited resource like oil, silver, water, uranium, etc. the worlds population is still growing so the supply has to be stretched more thinly every year, especially because society demands we buy gold for our women to wear and electronics markets use it as a very good conductor that doesnt corrode. i dont know enough about gold mines like i know oil, but theyll all play out eventually and theyre the only new source of gold keeping the price from spiraling out of control. just like fossil fuels.
From what I understand, the price of gold is not dependent on the amount we pull from our mines, but on the amount that is on the market at any given time (because this pool is much larger than than the annual increase in supply). Oil is a different story because once retrieved, it is used (and you'll never see that barrel again). Gold does not get "used" like oil does.
Gold will not always go up. Otherwise, why would people have any other investments?
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And yes, the TV ads profit off of the difference in price that they get for the gold and the price that they sell, but I don't really think it's *scamming*. I doubt you could find a wholesaler that would buy gold from the general population ("how much for 5 ounces of this 14karat gold bracelet?" - "sorry, we only buy in 10lb or greater batches.")