Gold is up! Fiat is down. This price chart shows the crashing value of the Canadian Dollar over the past 15 years. Here in Canada, the gold bullion rush is just getting started, with people buying hand over fist. Gold has gone mainstream - even Costco selling bars and coins now - and a segment of the public is doing what they can to convert fiat savings into sound money.
Gold hit a new all-time high today in almost all fiat currencies, including the US Dollar, at 2625 USD per ounce.
That's 3570 CAD in my local currency. Gold was about 1200 when I begged my family to consider putting some savings into bullion like Gold Maple coins. I wish they had listened. Not only because our family would have preserved 3 times more wealth... but because as a result of them not listening, and regretting that, there is now permanent resentment and bitterness. Me being right (and them being wrong) about this and other important issues has caused a lot of headaches, and generally not been the blessing I thought it would. In fact, I wish I had never warned them what was about to happen about gold, about Covid, and about so many things in recent years.
As for gold, it's not over. The fiat price (if you can find it) is going into the tens of thousands of dollars. Strap in, cuz it's about to get interesting in the financial world.
Here we gooooold!
DRutter
Gold is definitely one of the good investment options. I started investing in it from a very early age. Right from the year 1998 from my salary every month I would save around to buy 1 gram and then every 6 months buy a 24K coin of 5 grams, at that time it was done for a specific purpose, but then with god's grace I did not have to use it for that purpose and now I have a good saving of Gold in the form of coins. As it is we Indians have some sentimental value for Gold, we buy but never believe in selling.... :-)
But for me, 4 years back when we had a huge medical expense of my hubby, we did sell some of it and got exceptional returns from our savings and then later we removed some and invested in cryptos and there too it's been a fair return so far.
It definitely is one of the best investments.
Nice, good job saving some real money. Indians have known the value of gold for thousands of years! Your buying habits change the world's supply and demand situation, especially around certain holidays. Lots of people... and a lot of them love gold! :D
Oh wow, gold has done amazingly well. I believe bitcoin and decentralized cryptos will go that way too. We all know the fate of govt controlled fiat. I knew about bitcoin early say around 2014 but I didn't have the capital to invest back then. Until today none of my family are interested or want to learn about crypto, maybe they would consider gold.
Anyways, thank you for sharing and keep enjoying your weekend :}
Thanks buddy! You're right, maybe they would consider gold. Some people prefer to invest at all-time highs. In this case, it might not be a bad idea. Things are spiraling out of control and the financial system is coming apart. Having at least a little physical gold and silver seems to be a very good idea, regardless of investment considerations.
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