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Chasing Gold
Gold's runnin'. And folks are chasin' it.
Bullion was on track for a sixth gain in seven weeks Friday, having minted new records above $2,750.
Explanations for the rally vary. I talked at some length about gold earlier this week. I'll confess to being mostly disinterested. For me, gold's something you have in your portfolio because you have to. It can be a decent hedge. Or not. It can be uncorrelated. Or not. Allocate 5% or 10% to it and forget it. (Not investment advice. Consult a local finan
Getting pimp-slapped by OFAC is a real b****…haha
I wonder how much in gold coins and bullions are hidden in “old” people’s houses and backyards?
My parents (born in 33/34) kept gold eagle coins and bullion in their safe deposit boxes, however, they also had some hidden throughout their house. By the end of the time that they lived there, they couldn’t remember exactly what was hidden and where. What a fun treasure hunt that was!
Recently, my dad and I took one of his gold coins to a gold trader to sell it. That was the first time in his life he had ever sold gold- but I convinced him this was a good time to have a “test run”, in case he ever needs to be able to convert gold into USDs. The gold trader offered cash, check or wire transfer. We deliberated, but ultimately decided on cash. Then we took the cash and went out for a turkey/swiss sandwich (we split one). My dad told me to “keep the change”. He is a very sweet dad. 🙂
Gold prices are crazy now, bitcoin, modern art, etc. too. it’s nuts.
Three factors. Nerves about currencies. Central bank buying. Diversification away from dollar (see number 1)