Gold price long time not so high, what's up?

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PaulKruger

Specialist in anonymizing my own business!
Mentor Group Gold
I noticed that the price per ounce is ultra high this morning, does someone know if people dropped bitcoin and buy the Gold that is left before there isn't more to buy?
 

Bagpacker

Entrepreneur
I noticed that the price per ounce is ultra high this morning, does someone know if people dropped bitcoin and buy the Gold that is left before there isn't more to buy?
Inflation in the US is sky-high. People are just buying what they can for their fiat. Many of the main cryptos are also either at ATH or slightly below. Then add the crazy valuations of the stock market and it is just normal that people look for some "cheaper" stuff like gold and silver, with the latter still being far from its ATH.

Btw., why would there be no more gold to buy? Almost all of the gold mined within the past 4'000 years is still on Planet Earth and every year there is new gold coming on the market. It is not an industrial metal, so nothing vanishes.
Silver is different in that it has ever increasing industrial use which means we will one day come to the point where there isn't more to buy.
 

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