CNBC put the following error in print this week about Gold: "Indeed, over the last century, gold has risen around just 1% a year, on average." Since 1924, even with gold's price being fixed for about the last half-century, it has risen nearly 5% per year in the last 100 years. Since 1970, it has gained nearly 8% per year in this entire full fiat currency era, 1971-2024. Most Westerners are gold illiterate, buying cheap 14k gold retail at like 3-4X melt value with no clue it 14/24k means 58.3% gold purity. There are entire "We Buy Gold' industries built on such ignorance.
@@thekingispresent__@thekingispresent__ Sure, it's worse than I even suggested upon looking it up: "The average price of a 14k gold wedding band is $2,259.12. A 14k gold ring is made up of 58.3% pure gold, and a 5-gram piece of 14k gold is worth about $182.80." So, in that case, nearly +12X melt value people pay. Add in not precious diamonds and the hoodwinking price points get even more ridiculous and worse.
@@thekingispresent__@thekingispresent__ Most people in the USA don't buy gold to save; they do buy things like wedding bands/rings or jewelry made of 14k gold, having no idea of gold's value or ongoing spot price points. They typically pay +5X or more for whatever gold they get in the jewelry items. My point is that most Westerners know next to nothing about gold, whereas Easterners are very savvy, having used it as a savings vehicle for centuries of millennia. Hopefully, that makes sense to you.
Yep. And as the US dollar faces debt problems that are solved by printing more, both gold and bitcoin will be added to central bank balance sheets as the only refuge. And think about this: not even the critics of gold are not calling it a “bubble”. We’re not anywhere close to a bubble. But we will be I’m wildly bullish on both the metals and bitcoin. Also good for speculation is gold miner stocks, silver and maybe platinum
I purchased a couple times in 2003 at $380. Turns out I bought all I ever needed then. I keep in in a bank lock box for $60 year, so custody cost is low, less than GLD
Dedollarization is on the way. China is not the only one hoarding gold, other countries' central banks also are doing the same, including surpise surpise, Singapore, you know that Singapore, the most capitalist South East Asian nation who is US friend.
There is one thing that I don’t understand. In 2023, the central banks all over the world purchased around 1000 tons of gold, which equals to the daily volume of gold transactions of the Nymex and SGE. How could the central banks’ purchases of the gold influence the market price?
China's population is piling into gold, in the absence of other good investments. They literally had to halt trading trading in one of their gold ETF's because it was getting heavily overvalued.
Wow, thanks for sharing! I've been looking for a reliable financial advisor, and Katherine sounds like just the person I need. I'll definitely look her up online.
![Gunna - HIM ALL ALONG [Official Visualizer]](http://i.ytimg.com/vi/HiCxoDeo0hc/mqdefault.jpg)
Gold is money . Everything else is credit . .................( J.P. Morgan 1912 ) .....!!!
CNBC put the following error in print this week about Gold: "Indeed, over the last century, gold has risen around just 1% a year, on average."
Since 1924, even with gold's price being fixed for about the last half-century, it has risen nearly 5% per year in the last 100 years.
Since 1970, it has gained nearly 8% per year in this entire full fiat currency era, 1971-2024. Most Westerners are gold illiterate, buying cheap 14k gold retail at like 3-4X melt value with no clue it 14/24k means 58.3% gold purity. There are entire "We Buy Gold' industries built on such ignorance.
Can you explain that last part on 3-4X melt value?
@@thekingispresent__@thekingispresent__ Sure, it's worse than I even suggested upon looking it up: "The average price of a 14k gold wedding band is $2,259.12. A 14k gold ring is made up of 58.3% pure gold, and a 5-gram piece of 14k gold is worth about $182.80." So, in that case, nearly +12X melt value people pay. Add in not precious diamonds and the hoodwinking price points get even more ridiculous and worse.
Gold price was set in the US, but internationally???
@sdbullion I'm still really confused, so essentially what you're saying is people are selling & buying gold at a hyper inflated price?
@@thekingispresent__@thekingispresent__ Most people in the USA don't buy gold to save; they do buy things like wedding bands/rings or jewelry made of 14k gold, having no idea of gold's value or ongoing spot price points. They typically pay +5X or more for whatever gold they get in the jewelry items. My point is that most Westerners know next to nothing about gold, whereas Easterners are very savvy, having used it as a savings vehicle for centuries of millennia. Hopefully, that makes sense to you.
Rebecca: "Two reasons"
Me: cool
Rebecca: "China and china"
Me: great analysis
Not just China but central Banks around the world
Yep. And as the US dollar faces debt problems that are solved by printing more, both gold and bitcoin will be added to central bank balance sheets as the only refuge.
And think about this: not even the critics of gold are not calling it a “bubble”. We’re not anywhere close to a bubble. But we will be
I’m wildly bullish on both the metals and bitcoin.
Also good for speculation is gold miner stocks, silver and maybe platinum
Hold gold and at the very least your children will benefit immensely. I hope to never use my gold but rather pass it to my kids.
I buy physical gold, quite a substantial amount of gold bars. Intend to keep and pass down to children.🎉
Image being a Central Bank holding United States Debt... 😆😅🤣😂
Canada lol
I started purchasing gold in 1995. Up nicely, and my gains are not taxed until i sell. Probably never will !
I purchased a couple times in 2003 at $380. Turns out I bought all I ever needed then. I keep in in a bank lock box for $60 year, so custody cost is low, less than GLD
These “analysts” are absolute sheep
Brain dead NPC’s
Gold is the only money you can trust.
Didn't mention BRICS once.
That't the reason they are lost and damned to fall in future on the niveau of a third world country.
Dedollarization is on the way. China is not the only one hoarding gold, other countries' central banks also are doing the same, including surpise surpise, Singapore, you know that Singapore, the most capitalist South East Asian nation who is US friend.
Apparently India has bought a lot of silver. 70 million ounces . They have been buying more gold too
"Central banks are hedghing thier own ineptitude".
Quote of the show.
🤣 or your money printing machine called FED . Gold is the real money , not $! $ is just paper , even today it is only digital
Too simple, sometimes naive.
uhhhhhhhhhhhhhhhhhhhhhhhhhhh, I think inflating currencies and a general fear of a recession are what are driving gold higher :)
India is the largest importer of gold in 2023. Switzerland is the largest importer of gold in 2022.
that place is cursed xD
China recently discovered a new gold mine. Of course with 1.4 billion under the roof why the West still would expect trader controlled stocks gambling
There is one thing that I don’t understand. In 2023, the central banks all over the world purchased around 1000 tons of gold, which equals to the daily volume of gold transactions of the Nymex and SGE. How could the central banks’ purchases of the gold influence the market price?
How do these nubs talk about gold and not know the US Gov debt is 34.3 Trillion ?
It was a brief mention as a percentage of GDP. But yeah...these folks seem a bit disconnected from the average John or Jane Doe.
How does an Economy Expert not know what the US debt is.
china's central bank has been buying all the gold they can get their hands on for many years, that's not causing a sudden rise.
China's population is piling into gold, in the absence of other good investments.
They literally had to halt trading trading in one of their gold ETF's because it was getting heavily overvalued.
Simply buy Gold.
Selling gold is a pain in the ass
Jewelry- yes. Coins- no
Is it still a good invest to buy gold when the price is so high?
The lady in the round, Rebecca Patterson, was the only giving a clear statement.
Gold silver is real money. All others are iou
Kinda what fiat means, yeah.
BYE BYE USD BYE BYE USA
Gold 10X on the way folks buckle up your seat belt. Still per ounce GOLD price is pretty low, load up at least one ounce.
Hah! What a turnaround! Gold is good all of a sudden??
Golds always been good.
The Fed gonna pivot soon
China, China , china again! US scare of baloons, 5G, trains, EVs, cranes????? with superman, ironman, spiderman why worries????
Oh okay I see so this is a new agenda I'm sure the federal reserves money printer has nothing to do with gold going up 😂😅😂
Guy FIST BUMP @ 1:46 🤣🤣🤣
The world has had enough of worthless USD dominance.
Italy has more gold reserves than china...
I think you are forgetting to factor in the very real prospect of a future World War. This is also driving gold up.
Greed and stupidity will drive up the price of everything eventually while at the same time lowering the value of life itself...
China and china was the answer i was lookin for
I allocate 2% to Bitcoin and 2% to Gold.
I'd triple both but its tough with both at all time highs.
too little
I have 18% in gold stocks
I think china drive the world economy not U.S....Gone r days😂
And 96% to what??
I allocate 20% to silver, 30% to gold, 50% to cash, and 0% to crypto bs.
biggest factor driving gold prices? why not say truth that they just took over price setting mechanism like they did with steel/iron already..
Truth is inflation and dollar collapsing.
We see new ATH and the news dont report on it.
China's TikTok is flooding RUclips 😡
CH-ina
The second great depression of America 💀 god bless the usa
0:01😆
Hey folks, have you heard about Katherine C Boone? She's been getting a lot of buzz lately for her management skills.
Yeah, I've come across her name a few times. Isn't she known for her expertise in trading gold?
That's right. Katherine's insights into the gold market, both in forex and stocks, have been pretty impressive.
I've actually been considering diversifying into gold. Maybe I should look into her services.
@@LeahLewis-ny9iu Absolutely! I've been working with Katherine for a while now, she an expert in this field.
Wow, thanks for sharing! I've been looking for a reliable financial advisor, and Katherine sounds like just the person I need. I'll definitely look her up online.
GOLD RUSH FOMO
but is just a worthless piece of rock ....
Nah the problem is you
bitcoin is doing even better than gold
Volitality is the enemy my friend. Have you ever seen Gold losing 50% of its value in 1 yr?
Yeah nah.
She's not too bright is she?
UH OH
red china's buying alone won't help spot gold, expect gold to take a massive plunge
This message will not age well
Yeah that aged well, Financial Genius.
bitcoin > gold
Gold > scam
bitcoin can fall to 0 same day with a little hack
Crypt means a burrial ground. Bit pixels < Gold.
Bitcoin owned by investors highly speculative. Gold is not owned by retail investors only central banks
@@ahmedalsharman yep the central Banks (those who print monies) are accumulating gold.....they know something is coming
Just go and sell appl stock and buy navida and amd....
Gold is sniffing out rate cuts... sooner rather than later.
🫵🤔🫵
Inflation will go to 30% before it ever gets to 2%.
All the usual references are out the window now, including a rising USD.
Gold price is no longer controlled by Western manipulators.
Were did they found this people????😅😅😅😅😅😅😅😅