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/biz/ - Business & Finance

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54534530 No.54534530 [Reply] [Original]

Is there any point in buying gold? Let's have a rational discussion please.

>> No.54534668

>>54534530
You shouldn't. Stay poor.

>> No.54534754

You hold it in case the value of the dollar goes to ZERO. If there will be a new currency then you can convert the gold to the new currency. You lost nothing.

If you do not own any physical assets because they currently became unaffordable (home, car, etc etc) then it would be wise to own gold because it is much more affordable. You can even purchase collectibles like graded trading cards which is equivalent to holding gold because they are highly liquid.

Other then that its just a security in case banks implode and your 401k goes to zero.

>MUH BITCOIN

Yeah bitcoin is great and all...but is very volatile in price movement. One day you buy it for $60,000 and the next year its down to $15k. Governments can ban that shit and if the power goes out then its worth zero.

>> No.54534806

>>54534754
You don't think if dollar goes to zero there will be mayhem? Or just imagine the monetary system collapses, how you going to divide your solid gold bars? You can't split them or whatever. In that case you need food and guns

>> No.54534808

>>54534530
Buy gold miners. They pay div and you can sell them when gold hits 3k. Will happen within the next 5 years.

>> No.54534838

Yes.

>> No.54534878

>>54534806
You arent supposed to use your gold as barter. You hold it until a new monetary system emerges and the price of gold will be reset...thats if you survive.

Yeah you need to have protection, land, and food to thrive off when there is mayhem. A lot of people on here get if all wrong when it comes to gold and assume that its a means to make profit. Too many Gen Z kiddoes on /biz/

>> No.54534896

>>54534808
This. Gold miners are a great way to make a profit during gold price booms. Easy 10-100x depending on your luck and research. You buy and sell mining stocks, whereas, you buy and hold gold.

>> No.54534930

>>54534896
spoon feed me plz
barrick? FNV? WPM?

>> No.54534931
File: 624 KB, 1053x1389, Central Banks Buying Gold 4.png [View same] [iqdb] [saucenao] [google]
54534931

>>54534530
>Is there any point in buying gold?

No, dont do what the BRICS and all the central banks are doing, dont buy some useless pet rock thats survived every single financial crash and made the ones holding it stupid wealthy.

Continue to buy stocks, bonds and crypto and keep you money in the big banks who are totally not buying boring gold.

>> No.54534948

>>54534530

>>54534740

>> No.54534954

>you're already rich
yes, put some into physical gold bars (not coins) as a hedge

>you're not rich
no

>you're not rich, and also stupid
buy silver and gold coins

>> No.54535009

>>54534954
what's wrong with coins?

>> No.54535024

>>54534530
>Is there any point in buying gold?

Yes, if you are:

> already rich (8figs++) and want something pretty reliable as a safer backup than whatever else you dabble in, but not cash and can't be bothered with property

> poor and happy with to stay that way, absolutely not interested in actually making meaningful profit, just don't want to "save" in cash

>> No.54535065
File: 104 KB, 1170x452, 1627086599336.png [View same] [iqdb] [saucenao] [google]
54535065

>>54534930
i screenshotted one anons holdings from the commodities thread. those guys share good info.

>> No.54535068

>>54535009
you're not buying gold, you're buying a bad gold product, a gimmick collectible.

>> No.54535087
File: 3.31 MB, 2783x9500, 1624704844040.jpg [View same] [iqdb] [saucenao] [google]
54535087

and here is some info on the potential on mining stocks during gold/silver bull runs.

>> No.54535091

>>54535068
gold european coins are often times the closest to spot you can get.

>> No.54535105

>>54535065
arent all of those at risk for delisting being under $1?

>> No.54535140

Someone redpill me on 24k gold jewelry and why it’s so popular in Asia.

>> No.54535143

>>54535091
which is why buying gold is for the wealthy not the poor. it's not a way to make money, but a last resort hedge.

>> No.54535169

>>54534530
No. If you want a precious metal buy something useful like copper

>> No.54535203

>>54535105
they arent delisted. they are otc stocks aka penny stocks.

>> No.54535349

>>54535143
that I somewhat agree with, I was just confused about >>54534954 saying bars are better than coins. doesn't really check out, junk silver is extremely desirable and old european gold coins are very economical and reliable.

I don't think it's a bad idea for anybody to keep a portion of their savings in PMs, poor or rich. way more secure than paper assets. it's not about making money, it's about owning wealth for when you really need it.

>> No.54535382

>>54535349
because if you're forced to buy coins or even worse, silver, you're too poor to be buying gold