11 Replies to “It’s Probably Nothing”

  1. I follow Gold prices almost daily. Last Friday, Gold closed at $2807 and change. Today, it’s rapidly approaching $2885, and could make $2900 by this Friday. A one hundred dollar increase in a week. It will go down again, but in the long haul, it rises more than it falls. It’s always been a great long term investment. I started buying at just over $1200, and have never regretted doing so!

    1. Like ALL investment vehicles … you’ve ONLY made money if you SELL the commodity or Equity for MORE than you purchased it for. You must SELL it to achieve the gain. And you SELL it in dollars … you know … that funny money you mock.

      And all of those increases in value that has you excited? Yep. Measured in $ … dollars.

  2. The same thing happened just prior to the pandemic financial meltdown. Something’s going wrong with the world’s financial plumbing. It’s not just the potential for tariffs.

  4. It’s just real money making adjustments measured against constantly declining fiat currencies. To see this phenomenon (price stability or deflation) check out https://pricedingold.com/ and click on the various items priced in gold over time.

  6. Gold … like Equities … like Fiat currency … like Bitcoin … is ONLY “worth” what the marketplace says it is. And is only “liquid” if someone accepts it as a medium of exchange. There. is. nothing. magic. about. gold. … or any other medium of exchange.

    And thieves strip copper wiring out of our lamp posts, Tesla superchargers, and our schools … because they can easily get spendable dollars for it. Thieves steal giant jugs of laundry detergent … because they can SELL IT … for useful $dollars … on the street.

    1. Not quite. Equities are not a medium of exchange. Unlike all fiat currencies that become worthless (priced by “the marketplace”) and lasting on average about 200 years, Gold (priced by “the marketplace) has never been worth zero and has held its value for at least 3000 years. It’s not magic, it’s something that doesn’t represent someone else’s liability, it’s not easy to produce, and it’s a time tested medium of exchange. It’s convenient because of its value for large transactions but less so for small transactions where silver and copper are more convenient. Governments don’t like it because they are criminal organizations that thrive on their ability to dilute their fiat currencies to temporality “stimulate” their friends, voters, and economies, practicing “legalized” counterfeiting.

      1. A contractor I know was selling a beautiful brand new, authentic Tudor-styled, 6,000 sq.ft. home in the Gated Blackhawk Community in Danville, CA. A Chinese buyer showed up in his office and plopped-down a bag of diamonds, and told him they were “worth” more than his asking price. He politely declined.

        Funny thing. MOST all the diamonds ever mined on the planet are hidden in DeBeers vaults somewhere in Belgium. No one really knows how many carats are there. No one is really sure how many tonnes of gold is hidden in Fort Knox.

        As I have learned from being an avid viewer of Antiques Roadshow … rarity and scarcity don’t translate into automatic value. No … marketplace DESIRE for a particular antique, or artist, is what sets the value. Sorry to say … but most people still prefer to Earn, hoard, and SPEND paper (or plasticine) dollars.

  7. Wouldn’t this be to counterbalance the fact China has been stockpiling gold like drunken sailors for the last few years? No rational Western government seemed concerned by this.

    A few months ago, I heard a wise investment guru predict gold would hit $3,200. Of course, there was no timeline but he thought it would be relatively short. This was after it flirted with $2,800 and was dropping to $2,600, which he also predicted.

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