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Nov 9, 2020 gold was $1867/oz.....today it's $2400/oz. What's changed?
Posted on 4/16/24 at 5:08 pm
Posted on 4/16/24 at 5:08 pm
Another $6 trillion of US debt? 30% cumulative inflation over the past 2 years? Global instability? Bidenomics?
Something is driving the price of gold to record highs. I've heard several investment gurus on various podcasts say a lot of the price increase is being attributed to large banks around the globe buying gold? Could be we're entering the FOMO phase.
Something is driving the price of gold to record highs. I've heard several investment gurus on various podcasts say a lot of the price increase is being attributed to large banks around the globe buying gold? Could be we're entering the FOMO phase.
19
Posted on 4/16/24 at 5:15 pm to Bass Tiger
Weakened dollar.
Posted on 4/16/24 at 5:16 pm to cajuntiger1010
Yeah, I think my list pretty much explains a weakened and debased USD.
How about a rigged 2020 GE? That could have played a part.
How about a rigged 2020 GE? That could have played a part.
Posted on 4/16/24 at 5:41 pm to Bass Tiger
A dollar is worth about 75% of what it was worth in January 2021. If that. Saying that makes some posters’ heads explode, but I don’t see how anyone who has been paying attention can deny it. In an environment like this there is always some flight to hard assets.
ETA that there are some central banks around the world buying the stuff up.
ETA that there are some central banks around the world buying the stuff up.
This post was edited on 4/16/24 at 5:56 pm
Posted on 4/16/24 at 6:02 pm to Bass Tiger
Inflation.
You missed your chance to buy gold. FOMO is almost always a losing strategy.
You missed your chance to buy gold. FOMO is almost always a losing strategy.
Posted on 4/16/24 at 6:09 pm to Jack Carter
quote:
Inflation. You missed your chance to buy gold. FOMO is almost always a losing strategy.
I always have a percentage of my investments in gold.....some in mining stocks too.
Posted on 4/16/24 at 6:27 pm to Jack Carter
quote:
Inflation.
You missed your chance to buy gold. FOMO is almost always a losing strategy.
I bought physical gold and silver in January 2020. The resistance of both to go up until recently was perplexing, but it seems whatever manipulation had been happening has been overwhelmed by inflation.
Just wait til oil is $100+ a barrel this summer and prices at the checkout move upward even more.
Posted on 4/16/24 at 6:35 pm to Bass Tiger
quote:The price?
What's changed?
Posted on 4/16/24 at 6:36 pm to Bass Tiger
Inflation explains that entire gain. It's not a mystery. We have had about 25% inflation since then.
Posted on 4/16/24 at 6:51 pm to TBoy
quote:
The price?
Posted on 4/16/24 at 8:18 pm to Bass Tiger
Gold pretty much is always rising with inflation.
Its value when compared with CPI is almost always the same, despite change in dollar value.
Its value when compared with CPI is almost always the same, despite change in dollar value.
Posted on 4/16/24 at 8:19 pm to SloaneRanger
quote:
A dollar is worth about 75% of what it was worth in January 2021. If that. Saying that makes some posters’ heads explode, but I don’t see how anyone who has been paying attention can deny it.
They voted for it.
Posted on 4/16/24 at 8:46 pm to Bass Tiger
Looks like Tony Beets new one million dollar D-11 dozer will earn its keeps this year. 
Posted on 4/16/24 at 8:52 pm to Bass Tiger
Hedging, … specifically increased demand created by hedging by Central Banks worldwide. It is a common buffer against expected financial instability. They do this using monetary gold and gold bullion Reserves.
Gold is the only financial asset without counterparty risk., therefore good hedge.
Gold is the only financial asset without counterparty risk., therefore good hedge.
This post was edited on 4/18/24 at 6:48 am
Posted on 4/16/24 at 8:52 pm to Bass Tiger
quote:
Nov 9, 2020 gold was $1867/oz.....today it's $2400/oz. What's changed?
Posted on 4/16/24 at 8:56 pm to Bass Tiger
I bought some Krugerrands a few months back when gold hit $1850. It dropped some more but $1850 was the trigger I was waiting for. With the premium added, each ounce coin was a little over $1900. I wish I had bought more but now I’ll just watch and wait for a good dip.
Posted on 4/16/24 at 8:57 pm to Bass Tiger
It was over $2k in 2020, too.
Posted on 4/16/24 at 8:59 pm to dgnx6
quote:
quote:
A dollar is worth about 75% of what it was worth in January 2021. If that. Saying that makes some posters’ heads explode, but I don’t see how anyone who has been paying attention can deny it.
They voted for it.
Yay T-Boy.
Posted on 4/16/24 at 9:09 pm to Bass Tiger
quote:
Nov 9, 2020 gold was $1867/oz.....today it's $2400/oz. What's changed?
Gold hasn’t changed. That November gold coin buys exactly the same stuff today as it did then.
The dollar changed, we printed it into dilution and gave that money away.
Posted on 4/16/24 at 9:40 pm to DisplacedBuckeye
quote:
It was over $2k in 2020, too.
Gold hit over $800/oz in the early 1980's, adjusted for inflation it would be well over $2500/oz today. Gold also hit nearly $2k/oz in 2011 or 2012, adjusted for inflation since 2012 and we're approaching $3k/oz.
Some believe silver may be a good buy right now at under $30/oz, that's still quite low when compared to the all time high of around $50/oz
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