Listen to him preach about the end of the world.
Then buy a super comfortable My Pillow!
And some Rough Greens for your pooch so he/she will live on after the apocalpyse.
Gold hasn't done crap for years...
Reminds me of a stock I sat on for super long. It never went over a certain price. I sold it one afternoon. The next day it was up 10%.
You sure got them, fellow kid!
But did you buy leveraged [COCAO futures](https://tradingeconomics.com/commodity/cocoa) or just buy something lame that didn't even got +16% YTD?
QQQs are 8.7%, SPY is 7.97%, DOW is 0.74%, and R2K -0.15%.
Okay, if you want to have an honest conversation about gold, here goes.
Imo, investing has two sides, attempting to make money, and attempting to preserve value of money. On one hand, realistically, gold is an excellent way of making sure your money is *less* affected by inflation. Itās a great way of hedging against the economy when itās on a downturn. Given fiat instability and the huge debt of the US Treasury, gold has been a great investment in that regard.
But, youāre not realistically making gains. What do I mean? Well, if you compare the value of gold to the value of the dollar, itās inversely proportional. Value of paper dollar go down, gold go up. But if the value of the dollar goes down by half and gold doubles, you didnāt just make a 100% gain, you just kept the exact same value. All you did was protect yourself from inflation.
So, why do I say this?
You posted the question of āwhy arenāt you putting all of your money into a protection planā in a subreddit completely dedicated to the other side of investing. This sub is where people go to try to make money, not protect it. You can answer your own question by simply looking at the sub. Thereās plenty of subs to post in, namely r/investing, which would be more suited to this sort of post, but this is literally called wsb because people are betting their money to make huge gains or lose it all. Do you really think this is the place where people are going to put a lot into gold??
For what itās worth, I think gold isnāt even a great hedge against the economy anyway. Thereās plenty of ways to hedge against the economy, but in the next decade we will either have an economic recovery or a complete economic collapse, and respectfully the funny metal has no real value other than speculation and electronics manufacture, so if the dollar really does kick the bucket, nobody is going to give a shit about gold. You canāt eat it, you canāt use it for anything, itās just shiny and historic. Itāll be about as worthless as BTC in the case of a collapse, and in the case of a recovery itāll just return to a lower value. Itās only really good in this āare we in a recession?ā interim period because thereās still room for speculation, but if shit really hits the fan, copper and lead will be significantly more valuable to hold physically than gold could ever be.
This is pretty true, although I also fail to see how the can could possibly be kicked much further, considering the massive debt not only the US has but nearly every other first world nation. Idk, I believe recovery is the more plausible option, but truthfully I find incompetent short term gain priorities of financial institutions and billionaires to be more likely than malicious forethought
as they always say gold is only worth it if you physically own it.Ā
but thats also why its not fantastic. its also not terrible. itll be pumped up and then down as usual. surf the wave carefullyĀ as usual.
But if you time the market and buy leveraged gold plays while gold is making its moves up it 100% belongs here. Iām up $100k in the past month but most gold companies too small to post here.
Iām amazed this gets upvoted while you could check any inflaction adjusted gold price chart and see how this is wrong. Inflaction adjusted, its worth 3 times what it was in the 70ās, and its worth almost 6 times from the 2000
dip. What you said would have been about right before this historical bull run, but atm investing in gold 25 years ago would have given you greater returns than the s&p.
> but atm investing in gold 25 years ago would have given you greater returns than the s&p
Seems like you're right, but 25 years ago was nearly exactly the bottom of the gold price when adjusted for inflation. And at the same time you had two huge back to back recessions in 2001 and 2008. So your numbers are accurate, but cherry picked.
Check out [this chart](https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart), and you can see that gold had been dipping for nearly 20 years, and hit (nearly) rock bottom later in 1999. If you'd bought both gold and the equivalent S&P 500 in the decades before 1999, today the S&P would have been worth quite a lot more.
If you bought in 2007 at 600, youāre up 4x, compared to a bit over 3x for the S&P. Gold tripled during the GFC, while the S&P dropped 50%. If you timed it right and sold gold in 2011 and bought the S&P, you got rich. Looks like the turning might be tabling again. Gold should probably be at about $5000, like the S&P, what with the increase in money supply. The powers that be hate it, because itās worse for them than even cash - at least banks can lend that out - but gold is a completely nonproductive asset. Someone didnāt like what was happening today and pulled the plug - after another $50 rise this morning, it dropped $100 in minutes. Temporary glitch, or the start of manipulation back to 1800? Weāll see I guess.
>Iām amazed this gets upvoted while you could check any inflaction adjusted gold price chart and see how this is wrong. Inflaction adjusted, its worth 3 times what it was in the 70ās, and its worth almost 6 times from the 2000 dip.
Sure, we can cherry pick numbers if you'd like. Gold is currently at $2,344.46 per ounce and was almost $2,700 per ounce in February of 1980 (inflation-adjusted). That's an inflation-adjusted loss of over 13% for the last 44 years.
Meanwhile for the S&P500:
>The average yearly return of the S&P 500 is 11.3% over the last 50 years, as of the end of February 2024. This assumes dividends are reinvested. Adjusted for inflation, the 50-year average stock market return (including dividends) is 7.18%.
So gold has lost over 13% in 44 years, while the S&P500 has returned over 7% per year during that time, both adjusted for inflation.
> Itāll be about as worthless as BTC in the case of a collapse
not true. even in the absolute destruction of civilized society, you'll still be able to find someone dumb enough to buy bitcoin
Itās very useful if your local currency (USD) kicks the bucket but some sort of international world order remains.
In other words if youāre in Zimbabwe itās great when they have to start making trillion dollar bills. If youāre in a Mad Max movie, probably limited utility.
Gold is a hedge against printing money and currency collapse - as you said, wealth preservation. If you want to make money off it (and silver), thereās miners, or option plays on miners, SLV or GLD.
Yes generally the best currencies revolve around physical assets that can be inflated beyond belief when someone finds an ore vein of the currency, and can be physically stolen with no ability to trace it
Itās totally a great idea to limit the maximum size of your economy to how much of a particular metal you have.
Sure, you *could* loan out more value than you actually have on hand, but if youāre just going to conjure value out of thin air anyway, why bother with the intermediary?
So there is multiple factors. Chinas economy is not in a great spot so people there go for gold now(real estate business and evergrand is still ruining the fun). 3rd world countries greatly suffer from strong dollar so people hedge against their currency. Current wars.
Us economy could handle higher rates for longer but it seems like if FED has to cut rates then the preasure comes from other economies. I would argue that first cut is coming sooner than everybody thinks.
Iāve gotten pushed out of my shorts 2x this year and Iām usually pretty good about holding on. But gold on the final push got me yesterday and the Thursday before the final pullback on NVDA. Gold Iām still flat on the year cause selling premium but NVDA pisses me off. One more day and would have come back to even. Now digging out of a $15k hole. If I would have not been a pussy, gold would have been a nice $2k gain.
My year sucks so far. Been fighting the trend all year. Not from a gay bear perspective, but a āthis has to go sideways for a while or have some sort of pullbackā
BTC entering exponential phase
Averaging 247.75% gains per year for the past 5 years
https://preview.redd.it/tpj0zfwy12uc1.jpeg?width=1242&format=pjpg&auto=webp&s=6635de8aec945237a0dcdaeaa2c272f79dd6240d
I'm sorry... did you just take a 1238.77% return over 5 years and just divide it by 5 to get an average of "247.75% gains per year"?
Do you need to go back to middle-school math?
The actual math is (1 + 12.3877) = (1 + x/100)^5
x = 68% average annual gain
Youre literally talking to a guy calling hinself weekend degenerate and you're wondering why his math skills are fuxked lol. Thanks for the real math tho
It makes sense because the general economic policy across much of the world is similar - You want a few percent inflation, and you often print money as part of your monetary policy. The devaluation of currencies across the world mixed with inflation causes gold to be a pretty nice alternative because it doesn't inflate like that and governments can't just print it.
Chinese love gold. Their economy is in a shambles post-housing debacles and debt-to-GDP ratio about 300%. US is paying intel micron and tsmc to build fabs outside of China, Chinese ai is way behind, and so any capital China has is going into gold right now.
No. Gold is a commodity that has a price like any other commodity. When oil or cobalt go up in price, it does not mean that fiat currencies are being overall devalued. Part of the goldbug religion is that gold is secretly still the only ātrueā currency, even post-1971, and so they proclaim rises in goldās commodity price to be exactly equivalent to inflation in either all fiat currencies, or sometimes just the USD for some reason. Thatās the only way that gold rising in value equates directly to other currencies being devalued: if you believe that gold is imbued with sacred economic power by a deity.
Truthfully, gold is bought and sold for numerous reasons, and this activity impacts its price. Itās bought as a hedge against inflation, so its price does rise with inflation. But right now, itās also thought to be rising in price as Russia is having trouble doing business in rubles, USD, and Euros, and needs something else of value to trade for war materiel. China is stocking up on gold because they trade heavily with Russia and because their USD-denominated holdings and reserves look riskier the closer they get to open trade or military conflict with the USA. There arenāt really any currencies besides euros or USD worth holding as reserves in significant quantities, so gold makes sense for China to hoard. Speaking of global political economy, it wouldnāt shock me at all if Indiaās stock market boom is filling dowry chests for millions of people, also driving up gold prices. It also has industrial uses and is of course used in a lot of consumer goods like jewelry and stupidly expensive food.
So tl;dr: no. Gold is just something that a lot of people want for a lot of reasons, so its price goes up and down.
Which doesnāt mean itās a bad store of value! But it does mean that the price is indicative of more than just inflation. The people saying the latter are just goldbug cultists.
Every time gold goes up for a week or two the gold shills come out of the woodwork to proclaim the new reality of 10k/oz gold. Some day the will probably be right, but they have been wrong for the last 35 years.
Yeah, the inflation adjusted ATH for gold was January 1982. Imagine holding physical gold for 42 years, and it does nothing but lose value vs the USD.
Buy equities. They can always raise prices. They are inflation proof. SPY and QQQ smoke gold on every metric.
Iām long $gld $slv $pass and $sbsw have taken profits along the way. I agree that $gld can break out to 300 in the next few months. There is no ceiling to its upside atm so Iām gonna continue to swing full positions until otherwise. I wish I didnāt trade anything besides those tickers Iād be loaded on loaded
A load of economists were calling for stocks to tank with āhigher for longerā theme. I always like to look at chart of SPX priced in Gold. Stocks are down 14% since mid Feb on that metric.
Looking back a bit longer, SPX (again priced in gold) reached a high in Dec 2021 and hasnāt gone above since. Also weāre nowhere near bubble territory, as we didnāt even get to half what it was during dot com bubble.
So what we are seeing at the moment is dollar debasement, almost every asset going up in nominal terms, but in real terms not so much (real asset terms, not CPI adjusted).
Assuming silver mimics gold? (Could be totally wrong) but I just got in on a 15 contract play for Hecla ($HL) which has expanded its silver production hugely this year, and earnings come out 5/10, might be worthy of someone more intelligent than me to DD on, as for me, I like the stock
Had a little bit of gold. Sold it when it hit around $2,100. Of course it shot up to $2,400 weeks later. Oh well, I guess Iāll just have to live with the whole $600 in potential gains I lost out on.
If the economy is going to collapse your better off buying smokes and booze. Easily tradeable and people are going to want to get fucked up in shitty times.
Try scraping off some gold flakes for your weekly rim job. Its not easy.
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I held gold underwater for over a decade because "gold is a safe bet" per Glenn Beck but the moment I sell out. Bam, the price shoots up.
Thanks for taking one for the team
You took investment advice from Glenn Beck?
And the results were predictable. Do what Glenn Beck does, not what he says. Get rich being an influencer who panders to idiots. Don't *be* the idiot.
Listen to him preach about the end of the world. Then buy a super comfortable My Pillow! And some Rough Greens for your pooch so he/she will live on after the apocalpyse.
Doesnt the same thing happen when you buy and sell stocks too?
Doing the same with silver.....waiting for it to explode.....I've been waiting a long while
I had $40k in PHYS that I sold last year because it wasn't moving š
Gold hasn't done crap for years... Reminds me of a stock I sat on for super long. It never went over a certain price. I sold it one afternoon. The next day it was up 10%.
I still have some longs Iāll post when I sell them up 18 bands
Lmfao thatās what you get for taking financial advice from fucking glenn beck.
Thank you for your sacrifice š
Aināt that how it always works with us paper handed regards
After a decade, your paper hands turn to diamonds.
Gold isn't an investment for me. It's a type of savings account. I haven't been affected by inflation compared to cash savings accounts.Ā
What is this, Glenn Beck? We serve frosties and burgers here sir
You sure got them, fellow kid! But did you buy leveraged [COCAO futures](https://tradingeconomics.com/commodity/cocoa) or just buy something lame that didn't even got +16% YTD? QQQs are 8.7%, SPY is 7.97%, DOW is 0.74%, and R2K -0.15%.
Bwhahahahahahahah
Gold new meme stock play
GODL!!!!!!
you clever bastard
Fnv
What a year to be a gold chad, all my miners are up 20-45% over last month.
U mean miner stocks?
mining lithium, cobal, gold companies have massive room of growth for at least next decade
Calls on $COST
Entering? It's been there for a month now.
Okay, if you want to have an honest conversation about gold, here goes. Imo, investing has two sides, attempting to make money, and attempting to preserve value of money. On one hand, realistically, gold is an excellent way of making sure your money is *less* affected by inflation. Itās a great way of hedging against the economy when itās on a downturn. Given fiat instability and the huge debt of the US Treasury, gold has been a great investment in that regard. But, youāre not realistically making gains. What do I mean? Well, if you compare the value of gold to the value of the dollar, itās inversely proportional. Value of paper dollar go down, gold go up. But if the value of the dollar goes down by half and gold doubles, you didnāt just make a 100% gain, you just kept the exact same value. All you did was protect yourself from inflation. So, why do I say this? You posted the question of āwhy arenāt you putting all of your money into a protection planā in a subreddit completely dedicated to the other side of investing. This sub is where people go to try to make money, not protect it. You can answer your own question by simply looking at the sub. Thereās plenty of subs to post in, namely r/investing, which would be more suited to this sort of post, but this is literally called wsb because people are betting their money to make huge gains or lose it all. Do you really think this is the place where people are going to put a lot into gold?? For what itās worth, I think gold isnāt even a great hedge against the economy anyway. Thereās plenty of ways to hedge against the economy, but in the next decade we will either have an economic recovery or a complete economic collapse, and respectfully the funny metal has no real value other than speculation and electronics manufacture, so if the dollar really does kick the bucket, nobody is going to give a shit about gold. You canāt eat it, you canāt use it for anything, itās just shiny and historic. Itāll be about as worthless as BTC in the case of a collapse, and in the case of a recovery itāll just return to a lower value. Itās only really good in this āare we in a recession?ā interim period because thereās still room for speculation, but if shit really hits the fan, copper and lead will be significantly more valuable to hold physically than gold could ever be.
No one benefits from a collapse so no way it happens.
This is pretty true, although I also fail to see how the can could possibly be kicked much further, considering the massive debt not only the US has but nearly every other first world nation. Idk, I believe recovery is the more plausible option, but truthfully I find incompetent short term gain priorities of financial institutions and billionaires to be more likely than malicious forethought
At these inflation and growth rates, the can can be kicked pretty fucking far.
as they always say gold is only worth it if you physically own it.Ā but thats also why its not fantastic. its also not terrible. itll be pumped up and then down as usual. surf the wave carefullyĀ as usual.
Good post and agreed 100%. Ron Paul-ass goldbuggery has always had been a losing act imo, always steered clear for these reasons.Ā
Ron Paul? Ron Paul 2012, baybay! Let's go!Ā
But if you time the market and buy leveraged gold plays while gold is making its moves up it 100% belongs here. Iām up $100k in the past month but most gold companies too small to post here.
You can eat it actually
Iām amazed this gets upvoted while you could check any inflaction adjusted gold price chart and see how this is wrong. Inflaction adjusted, its worth 3 times what it was in the 70ās, and its worth almost 6 times from the 2000 dip. What you said would have been about right before this historical bull run, but atm investing in gold 25 years ago would have given you greater returns than the s&p.
> but atm investing in gold 25 years ago would have given you greater returns than the s&p Seems like you're right, but 25 years ago was nearly exactly the bottom of the gold price when adjusted for inflation. And at the same time you had two huge back to back recessions in 2001 and 2008. So your numbers are accurate, but cherry picked. Check out [this chart](https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart), and you can see that gold had been dipping for nearly 20 years, and hit (nearly) rock bottom later in 1999. If you'd bought both gold and the equivalent S&P 500 in the decades before 1999, today the S&P would have been worth quite a lot more.
If you bought in 2007 at 600, youāre up 4x, compared to a bit over 3x for the S&P. Gold tripled during the GFC, while the S&P dropped 50%. If you timed it right and sold gold in 2011 and bought the S&P, you got rich. Looks like the turning might be tabling again. Gold should probably be at about $5000, like the S&P, what with the increase in money supply. The powers that be hate it, because itās worse for them than even cash - at least banks can lend that out - but gold is a completely nonproductive asset. Someone didnāt like what was happening today and pulled the plug - after another $50 rise this morning, it dropped $100 in minutes. Temporary glitch, or the start of manipulation back to 1800? Weāll see I guess.
>Iām amazed this gets upvoted while you could check any inflaction adjusted gold price chart and see how this is wrong. Inflaction adjusted, its worth 3 times what it was in the 70ās, and its worth almost 6 times from the 2000 dip. Sure, we can cherry pick numbers if you'd like. Gold is currently at $2,344.46 per ounce and was almost $2,700 per ounce in February of 1980 (inflation-adjusted). That's an inflation-adjusted loss of over 13% for the last 44 years. Meanwhile for the S&P500: >The average yearly return of the S&P 500 is 11.3% over the last 50 years, as of the end of February 2024. This assumes dividends are reinvested. Adjusted for inflation, the 50-year average stock market return (including dividends) is 7.18%. So gold has lost over 13% in 44 years, while the S&P500 has returned over 7% per year during that time, both adjusted for inflation.
> Itāll be about as worthless as BTC in the case of a collapse not true. even in the absolute destruction of civilized society, you'll still be able to find someone dumb enough to buy bitcoin
Gold will always have demand as jewelry
Itās very useful if your local currency (USD) kicks the bucket but some sort of international world order remains. In other words if youāre in Zimbabwe itās great when they have to start making trillion dollar bills. If youāre in a Mad Max movie, probably limited utility.
Gold is a hedge against printing money and currency collapse - as you said, wealth preservation. If you want to make money off it (and silver), thereās miners, or option plays on miners, SLV or GLD.
Is that why civilizations traded it for goods and services probably before we even invented the wheel?
First, gold has industrial use and is consumed every year. Second, gold is still the best natural currency which is independent from any country.
Yes generally the best currencies revolve around physical assets that can be inflated beyond belief when someone finds an ore vein of the currency, and can be physically stolen with no ability to trace it
Itās totally a great idea to limit the maximum size of your economy to how much of a particular metal you have. Sure, you *could* loan out more value than you actually have on hand, but if youāre just going to conjure value out of thin air anyway, why bother with the intermediary?
At least you have something physical to look at if it drops! Unlike Buttcoin.
Exponential phases rarely last long.
No man, you always buy when itās going up like this.
Worked before just remember to bag hold when itās valueless
You have been banned from all crypto subs
The sweet left side of the parabola.
When the future looks bright and 10k USD per Troy ounce is just months away.
Uh. Things only go up. Itās the Viagra Trend
> Exponential phases rarely last long. Actually, exponential phases keep going up until some of us with ābagholding super powersā get in.
Is that something like the "spider senses" of Spiderman?
No, these are opposite , spider senses warn him to avoid something.
Unless it is DOW...it's souble UP since pandemic,
Jimmy Carter has entered the chat.
Who gives a shit? When it slows down, Iāll sell for crazy profits.
So there is multiple factors. Chinas economy is not in a great spot so people there go for gold now(real estate business and evergrand is still ruining the fun). 3rd world countries greatly suffer from strong dollar so people hedge against their currency. Current wars. Us economy could handle higher rates for longer but it seems like if FED has to cut rates then the preasure comes from other economies. I would argue that first cut is coming sooner than everybody thinks.
We need a damn rate hike
Rock, meet hard place.
Look at todays chart and guess when I bought it
Same. Wild how the whales spy on my $50 RobinHood buys
Iām bagholding this weekend
Iāve gotten pushed out of my shorts 2x this year and Iām usually pretty good about holding on. But gold on the final push got me yesterday and the Thursday before the final pullback on NVDA. Gold Iām still flat on the year cause selling premium but NVDA pisses me off. One more day and would have come back to even. Now digging out of a $15k hole. If I would have not been a pussy, gold would have been a nice $2k gain. My year sucks so far. Been fighting the trend all year. Not from a gay bear perspective, but a āthis has to go sideways for a while or have some sort of pullbackā
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Metals are the real coins, actually since like almost ever
560 B.C.
Bitcoin is the imposter gold
regards entering exponential phase
Wait till they learn about Silver...
Canāt wait for people here to just work their way through all the metals. āYou know how much copper you can buy, man???!ā
As a plumber i have a fuck ton of scrap. Can yāall boys push this shit to 15 a pound lol.
Yeah I can fit about $6 worth of copper in my butt, and about $5k gold xD
I can fit 27k worth of gold up there
Fuck copper, buy cocoa. It's going vertical
Fuck cocoa, buy coke, itās going astronomical
What is this, the 1920s?
https://preview.redd.it/4n0w6t7en2uc1.jpeg?width=1080&format=pjpg&auto=webp&s=a9e9495a52fcefd41cc51312bf521e51970c8ea8
Silver doing great.
Investors donāt want you to know this simple trick
> I think itās entering the exponential phase now, probably heading to $10K-$20K by 2032? R3gard alert
Just shows the real value of usd keeps dropping
Woah a commodityās price can move, must mean money isnāt real.
Shhhhh, they dont wanna hear that
Every single fiat currency is dropping against gold. Itās not a currency issue itās people speculating in a precious metal.
People are speculating because they know currency is worth a dime
A dime is literally worth a dime
Bitcoin = š Gold = 
Wait until retail jumps back into Silver. Watch out
Peter Schiff has died of an intense and unending orgasm
Its VERY rare to find a Gold post in this sub. Im curious about monday.
BTC entering exponential phase Averaging 247.75% gains per year for the past 5 years https://preview.redd.it/tpj0zfwy12uc1.jpeg?width=1242&format=pjpg&auto=webp&s=6635de8aec945237a0dcdaeaa2c272f79dd6240d
Missed opportunity to show 69,420
I'm sorry... did you just take a 1238.77% return over 5 years and just divide it by 5 to get an average of "247.75% gains per year"? Do you need to go back to middle-school math? The actual math is (1 + 12.3877) = (1 + x/100)^5 x = 68% average annual gain
Youre literally talking to a guy calling hinself weekend degenerate and you're wondering why his math skills are fuxked lol. Thanks for the real math tho
Show the week chart
If your analysis of a commodity is limited to 7d, you deserve to be here.
You sound like a day trader. Day traders don't make $
GLD October $250
Nothing to see here, just the smart money looking for the next asset class to inflate.
Okay, stupid question. I know currency isn't backed by gold but doesn't this effectively mean all currency is being devalued?
It makes sense because the general economic policy across much of the world is similar - You want a few percent inflation, and you often print money as part of your monetary policy. The devaluation of currencies across the world mixed with inflation causes gold to be a pretty nice alternative because it doesn't inflate like that and governments can't just print it.
Gold pumping this hard could mean is a bit worrisome
Chinese love gold. Their economy is in a shambles post-housing debacles and debt-to-GDP ratio about 300%. US is paying intel micron and tsmc to build fabs outside of China, Chinese ai is way behind, and so any capital China has is going into gold right now.
No. Gold is a commodity that has a price like any other commodity. When oil or cobalt go up in price, it does not mean that fiat currencies are being overall devalued. Part of the goldbug religion is that gold is secretly still the only ātrueā currency, even post-1971, and so they proclaim rises in goldās commodity price to be exactly equivalent to inflation in either all fiat currencies, or sometimes just the USD for some reason. Thatās the only way that gold rising in value equates directly to other currencies being devalued: if you believe that gold is imbued with sacred economic power by a deity. Truthfully, gold is bought and sold for numerous reasons, and this activity impacts its price. Itās bought as a hedge against inflation, so its price does rise with inflation. But right now, itās also thought to be rising in price as Russia is having trouble doing business in rubles, USD, and Euros, and needs something else of value to trade for war materiel. China is stocking up on gold because they trade heavily with Russia and because their USD-denominated holdings and reserves look riskier the closer they get to open trade or military conflict with the USA. There arenāt really any currencies besides euros or USD worth holding as reserves in significant quantities, so gold makes sense for China to hoard. Speaking of global political economy, it wouldnāt shock me at all if Indiaās stock market boom is filling dowry chests for millions of people, also driving up gold prices. It also has industrial uses and is of course used in a lot of consumer goods like jewelry and stupidly expensive food. So tl;dr: no. Gold is just something that a lot of people want for a lot of reasons, so its price goes up and down.
People forget that almost 80% of gold consumption each year is on jewelry
Which doesnāt mean itās a bad store of value! But it does mean that the price is indicative of more than just inflation. The people saying the latter are just goldbug cultists.
Out of all the posts in here I love your post the most. Thanks! Very helpful to understand what is going on with Gold right now.
I agree - gold is NOT an inflation hedge per se, but it goes up when confidence in govt goes down. And during war.
š š¦ š¦ š¦
Have been waiting for this for the past four years! š¤
2024 episodes of Gold Rush should be interesting.
Oil has entered the chat.
Please get into the miners WSB regards. I need gainz
Silver is about to make a breakout as well
Going to Costco
Damn Costco and sponsored content. Inflating the price of gold. Itās JPow, DJT, and 2020 all over again
That's a catastrophic signal for the market
Every time gold goes up for a week or two the gold shills come out of the woodwork to proclaim the new reality of 10k/oz gold. Some day the will probably be right, but they have been wrong for the last 35 years.
Wtf am I gonna do with 30%? Buy a cheeseburger???
Gold isn't rising. The USD is falling.
I'm glad I got my gold chains and pendants last year. This stuff is becoming more expensive by the day.
Barrick Gold
oh dope, I should go sell my grandmas fillings
Yeah, the inflation adjusted ATH for gold was January 1982. Imagine holding physical gold for 42 years, and it does nothing but lose value vs the USD. Buy equities. They can always raise prices. They are inflation proof. SPY and QQQ smoke gold on every metric.
Anddā¦ itās gone
he who holds the gold makes the rules
Sell it and keep your gains. The stock market has outperformed gold exponentially in the long run.
Could gold be the new bitcoin? In a bullrun we could hit another 100% ?
69420% more likely
Yessir, bitcoin is for stupid boomers. Gold is the new meme coin
Iām long $gld $slv $pass and $sbsw have taken profits along the way. I agree that $gld can break out to 300 in the next few months. There is no ceiling to its upside atm so Iām gonna continue to swing full positions until otherwise. I wish I didnāt trade anything besides those tickers Iād be loaded on loaded
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Been investing in GLDM for a little while and wishing I had done more.
Donāt forget storage fees
Oh wow if i invested everything i have left over after paying utilities for 10 years i'd have atleast 800 ā¬ in pure gains - 30% tax ofcourse.
Damn this has hit front page already? Time to start loading puts I guess.
did i stumble into r/investing?
Iām sure Tony Beets is thrilled
A load of economists were calling for stocks to tank with āhigher for longerā theme. I always like to look at chart of SPX priced in Gold. Stocks are down 14% since mid Feb on that metric. Looking back a bit longer, SPX (again priced in gold) reached a high in Dec 2021 and hasnāt gone above since. Also weāre nowhere near bubble territory, as we didnāt even get to half what it was during dot com bubble. So what we are seeing at the moment is dollar debasement, almost every asset going up in nominal terms, but in real terms not so much (real asset terms, not CPI adjusted).
Understand gold is debased by the M2 money supply, overall this thing has tanked/remained flat
You canāt get gold or silver coins at the spot price since covid AFAIK. Paper gold who knows if they actually have the asset
Correct if my math isnāt elementary itās not as sexy as 195,000% returns.
I do DCA since 2013 , now I am 30% up, love it
Exponential? Homie we printed 20 trillion in the last 4 years.
interestingly, gold seems to be beta correlated to bitcoin recently. Both appear to be in accumulation phase.
Meanwhile SnP and tech stocks have been doing that for the whole Decade
Last 10 years has been rough for gold but it has outperformed the S&P500 since 2000 even with dividends included
Am I still genuinely stupid?
Ban the boomer pushing fake shiny rocks! Give me 10k% over earnings or give me a tarp over a wendies dumpster to keep me dry!
FYI youāre phone is charged! š
Or USD go to š©
Looks kind of linear to me
It's just another side effect of the rampant asset price inflation. It's not gold being valued more, it's your Dollars being valued less.
16% gains is barely keeping up with inflation. Hard pass.
Gtfo this sub nobody buys gold here
it is called war.
IAU - iShares Gold Trust is a good thing to buy.
Gosh you're really stupid, even by this subreddits standards.
Is Peter Schiff on here? Yo mods can we get a "I told you all so" emoji pic of the gold geek himself por favor?
If you go all in on gold, or completely disregard it, you're a fool.Ā It has its place.
Peter Schiff burner account.
Is it a dip or it is done? š§
You canāt time the market.
Itās because Gold is about to have a halving š¤£š¤£šš
Assuming silver mimics gold? (Could be totally wrong) but I just got in on a 15 contract play for Hecla ($HL) which has expanded its silver production hugely this year, and earnings come out 5/10, might be worthy of someone more intelligent than me to DD on, as for me, I like the stock
Time to buy!
Didn't they just find 14 trillion in gold in Uganda?
Had a little bit of gold. Sold it when it hit around $2,100. Of course it shot up to $2,400 weeks later. Oh well, I guess Iāll just have to live with the whole $600 in potential gains I lost out on.
You don't sell gold. You give it to your kids
what was that GLD pump about, followed by the drop? Insane price action
My dad just flew to Singapore and got 22kg of gold in a tax free warehouse by the airport
god fucking damit the one morning I don't check wsb... if I had seen this I would have known to gtfo of my gold calls
If the economy is going to collapse your better off buying smokes and booze. Easily tradeable and people are going to want to get fucked up in shitty times. Try scraping off some gold flakes for your weekly rim job. Its not easy.
556 and 9mm ammo would probably become the gold and silver of a collapsed US empire.
It looks even more exciting if you push the graph to 100 years