Thanks again for your remarkable and informational input. Have a good one.

Troy ounce, fiat money, store of wealth, cannot be copied, gold in the world wouldn't even fill an Olympic swimming pool, Fort Knox never been audited blah blah blah blah...

I've heard it all before.

If anyone thinks that the world's governments and central banks and everyone else invested in the system is going to allow their house to be replaced by little chunks of pretty metal, they are bonkers.

It is just an investment class that is having it's day in the sun at the moment. It's about time too, and it is not even that sunny. It did it all in 2009 and then spent a decade wasting peoples time.

16th March 2020..........Today

Gold....$1500.............$2050

Tesla..... $445............$1452

Facebook... $146.........$268

Bitcoin.....$5335..........$11620

It can't even outperform Bitcoin!!

My brother-in-law retired a few years ago to take up gold prospecting during Australia's winter months. He and his mate just returned from one of their regular four week winter jaunts into the goldfields $AUD12000 better for it.

Kung-fu Hillbilly wrote: ↑Sat Aug 08, 2020 2:12 pm My brother-in-law retired a few years ago to take up gold prospecting during Australia's winter months. He and his mate just returned from one of their regular four week winter jaunts into the goldfields $AUD12000 better for it.

$12000 AUD is about $8500 USD.
Assuming they had vehicles and hired yellow plant (I doubt they’d own it for four weeks). Plus fuel, food, beer, smokes(?), licences etc etc.

$8500 between two isn’t really worth it. In fact it’s not far from minimum wage.

Doc67 wrote: ↑Sat Aug 08, 2020 2:10 pm Troy ounce, fiat money, store of wealth, cannot be copied, gold in the world wouldn't even fill an Olympic swimming pool, Fort Knox never been audited blah blah blah blah...

I've heard it all before.

If anyone thinks that the world's governments and central banks and everyone else invested in the system is going to allow their house to be replaced by little chunks of pretty metal, they are bonkers.

It is just an investment class that is having it's day in the sun at the moment. It's about time too, and it is not even that sunny. It did it all in 2009 and then spent a decade wasting peoples time.

Gold is just a store of value. The real rate of return is zero when gold is at its historic purchasing power parity.

People run to gold when there is an economic crisis. If there is no crisis, no loss in confidence, no decline in the economy and the currency, then the price remains more or less steady. When the price of gold is up, take a look at your economy and your currency.

If this fella is still around he'd be even richer