With many stock markets in the red and Dow Jones headed for worst April since 1932, gold could even reach $4,000
Gold has risen above $3,500 an ounce for the first time while many stock markets are in the red and the US dollar hit a three-year low, after Donald Trump’s blistering attack on the Federal Reserve chair, Jerome Powell, caused alarm among investors.
Spot gold reached the record price on Tuesday morning, extending a rally that has pushed bullion up from $2,623 an ounce at the start of this year. Analysts now predict the metal could even reach $4,000 only a matter of weeks after the price moved through $3,000 for the first time.
The US currency and its government debt are usually seen as a safe haven during times of market turmoil, but as America itself has caused much of the recent volatility investors have been turning to another “port in the storm”, gold, in large numbers.
Agree 100%. Jewelry is ridiculous and only for stupid people obsessed with status symbols.
Gold is good for use as a coating to protect copper from corrosion in electrical circuits and wires.
Diamonds are good for drill bits?
Smart greedy people have been taking advantage of dumb people for centuries, millenia even. Spending hard earned money on this nonsense has never made sense to me, but the people selling sure are happy.
If society broke down, all this status symbol nonsense would become very quickly irrelevant. Food, water, ammo, medicine would be currency. Can't do shit with gold unless other people think it's valuable.
Gold has been used as a store of value for millennia and it still will be long after the dollar, yen and euro are distant memories. If society were to collapse, gold would literally be the only universal currency, as it has been until fairly recently. The only thing that could change that would be ubiquitous space mining that would produce gold in such quantities as to render it worthless. That's hardly going to happen after a societal collapse, though.
Negative. If society collapse, I personally, and my family can't eat gold. Period.
I'm not giving away precious ammo or food for gold. Either you've got something of value, or I'm not taking your gold. Period.
I'm talking about an extremely desperate situation, inherent to the whole "society collapse" phrase. I stand by this. Gold doesn't mean shit. It only means something if people like you apply value to it, where there's still some semblance of societal order and structure.
Sure except gold has been a source of value for Milena and well continue to be.
Gold, silver, etc was not valuable until we had a society that had currency. In societal collapse we're back to bartering and Gold is worthless except as a fancy trinket. The value of gold is a status symbol of having so much you can give away actual value for frivolous bullshit. The average peasant farmer can't make use of it.