1 Milllion used to hover near a dollar before 1.04. Anyone have any idea whether it'll ever go that low again? I haven't gotten a chance to play recently but 1.5 weeks ago it was around 1.90USD. So any predictions about where it will go next? Patch 1.05 so far seems to be bringing even more of the fixes that the fans are requesting and if it drives more people back to playing I could see gold prices continue to increase.

Thoughts?

Right when the patch hit, everyone tried to offload all their saved gold, that's why the price dropped so much.

Gold value will for sure increase

i think its going to continue rising for a bit, drop when MoP comes out, then jump again once the pvp patch is out

I think that as people get tired of playing that more and more buyers are leaving the economy. As this happens, the price of gold will drop. Wen patches hit more people come back to the game to try it out, the increase in buyers increases the demand for gold and the price matches the increase.

Taco: your observations do not appear to reflect reality. When 1.04 hit, prices dropped, they did not rise

The value of gold before 1.0.4 is lower because you can only get that kind of deal on sketchy thrid party sites, so that means the demand is lower because people aren't willing to risk getting scammed.

After 1.0.4 gold demand shot up because there is no risk buying gold from RMAH, so what we are seeing is the true value of gold. If the value will drop, it's going to drop pretty slowly because how expensive things are and the 15% AH cut is much larger than before, creating a larger gold sink.

I don't think it will ever stay above $2/M for long simply because as soon as it gets reasonably high there will be an influx of gold farmers switching from other games.

It's been a steady decline over the last week -- from about 1.66 down to 1.28 today.
I'm tempted to buy... however, many people will be trying to offload as soon as patch 1.0.5 hits.

Predicting a rise followed by a sharp dip as people sell, then it will climb up slightly as trade slows down again.
However, I think we can safely say there's a very very low chance of it going north of $2 because of the botters.

My guess is that it will likely hit the minimum of $0.25 / million within a few weeks as more gold and items enter the economy. When this point will exactly occur will likely depend on when new patches are released (namely 1.0.5 and the PvP patch).

Perhaps Blizz also has some control over this. I suppose it isn't 100% supply and demand. They have to make their money you know. If it is too low then their 15% won't be much.