The Case For $3,000 Gold 1 1

[Zebo]

On 10/5/2024 at 11:19 AM, VKurtB said:

I happened to have Fox Business on the tele this morning, and Barron's Weekend Roundtable was on. They got on the topic of having gold in your portfolio. Five commentators. They were UNANIMOUS that there should be NO GOLD in a responsible portfolio, certainly not from here

On that same channel, there are many that say gold does belong in everyone’s portfolio. There are also those, who are not gold enthusiasts, who say they expect a 30-40% drop in the stock market and those that say we will continue to be in a Bull market for the foreseeable future. You have so called expert opinions on both sides. Time will tell. 

Just saw this headline:
Goldman Sachs raises gold price target to $2,900/oz by early 2025 on sovereign buying, fund flows.

 

 

 

[cladking]

On 10/5/2024 at 10:19 AM, VKurtB said:

I happened to have Fox Business on the tele this morning, and Barron's Weekend Roundtable was on. They got on the topic of having gold in your portfolio. Five commentators. They were UNANIMOUS that there should be NO GOLD in a responsible portfolio, certainly not from here. Face it. Gold "investors" (actually speculators) are a cult. Unfortunately the intersection set between coin collectors and that cult is significant. That doesn't mean you should be expecting me at your cult meetings. Besides, I'll be on a plane flying somewhere.

 

This is the strongest case I've ever seen for buying gold. Imagine how much demand would materialize if millions upon millions of people including who knows how many billionaires suddenly decided that there was too much risk in the market!!!

I think you misunderstand my thinking on gold.  I hope and pray I will never need any gold and it will be the last thing I sell.  I bought old Gems and modern gold made in tiny numbers as well as any oddball thing I could lay my hands on just in case gold went even further down from where I bought it.  I'm sure I can get a premium on some of it if gold tanked.  

Gold is the only asset that has always survived a panic.  When you must leave where you are they won't take cash, checks, or credit cards.  They will only want gold.  People, all people, should stay where they are and work to prevent catastrophe but iff that fails you'll need gold.