cbs news
Gold is glittering for investors, with prices now topping a record $4,000 an ounce. But the reasons behind the shiny metal’s surge may be less than dazzling, with Wall Street analysts saying it reflects growing unease over the U.S. economy and political stability.
The price of gold has leaped 53% this year alone, far outpacing the 15% gain in the S&P 500 stock index over the same period. The price of an ounce of gold edged higher on Wednesday, touching $4,078, according to financial data company FactSet, with some analysts predicting it to go higher. More
The surge in demand for gold is coming from Asia, let that sink in on which country’s economic prospect are suspect. – Dr. Tar
Also, earlier today silver spot price was over $50.00 an ounce. It has since sold off to below 50. Gold has also sold off below $4,000. I’m thinking there is more upside than there is downside.
Imagine the mass of an ice cube two millimeters on a side. That is the mass of a dollar worth of gold.
P.S. https://en.wikipedia.org/wiki/Gold_dollar
And the wife went into the safe this morning to give me a pile of the old stuff she never wears anymore. To the refiners on Monday after pulling stones and melting into buttons (10, 14, etc.). Pays to know what you’re giving them as they have license to steal if you don’t know you have.
Momma wants the cash for the safe instead.
Some say it will hit 5000…
Without something else to put the proceeds into I’m holding what I have in ingots and graded coins…
I has a gold toof …
Inflation. Remember back when Chavez took over Venezuela before the inevitable collapse their stock market was going vertical and their price of gold and silver were too. Then suddenly, inexplicably, the stock market took an enormous dive and gold and silver went up radically in their currency. Will that happen here? Whom knows. Hope not. Just remember, do not vote democrat no matter what you do.
Always bear in mind that there are two significant ways to look at it.
— 4,000 federal reserve dollars is the price of one troy ounce of gold.
— One troy ounce of gold is the price of 4,000 federal reserve dollars.
Imagine if the Treasury verified it has pulled gold from Fort Knox, then mint it into commemorative gold Trump coins. Then market them to India and SE Asia. It would probably go a ways to offsetting this year’s debt.
^^^^^
Here is a comforting thought: if every ounce of the gold at Fort Knox were sold and used to pay down the national debt……………it would only cover 1.589% of it.
Gold sounds great except for a few MAJOR issues:
It does not pay dividends while you hold
It has a brokerage fee IN & OUT (yes like a stock but it’s not 9.99 per trade)
It generally does not get consumed but rather STORED for a while & then returns to market. (the tiny bit in electronics gets recycled for example and jewelry gets melted down)
Physical Theft & Storage problems
Payment ability. (How do you make change for 1/4oz of gold which is $1000.
FAKES – The Chinese are FAMOUS for CLADDING ALLOYS in GOLD & the Cores being fake.
Usually GOLD does good when everything else is in the DUMPER. The 5-10% recommended portfolio weighting often means that many other things have CRATERED.
I TRUST GOLD MORE THAN CRYPTO, but it is NOT EASY to USE
SELL, MORTIMER! SELL!
Blame China for devaluing the US Dollar.
Silver has historically been worth about a tenth of what gold is worth. Right now it’s worth about an 80th. Either gold is way over-valued or silver is under-valued. Any settling out of this disparity favors silver as an investment. Plus, silver US coins like dimes, quarters and bald dollars minted before 1965 are 90% silver, readily recognized and cheap enough to use for purchases. Ten dimes, or four quarter or two half dollars contain about .715 Troy ounces of silver.
By using Clinton/Gore, oBozo, Shiff, Shitpants, Pelosi, Boehner, Reid, McConnell, McCarthy, Newsome, McCain, et mult, mult al……..