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In a report published last week, market analysts at Bank of America (BoA) noted that gold is the best-performing asset so far this year. With gold's push to record highs above $2,500 an ounce, the precious metal is up roughly 20% in 2024.

In comparison, Bank of America noted that cryptocurrencies have risen 17.7%, stocks have rallied 15.4%, the overall commodity sector is up only 1.9%, government bonds have increased by 0.6%, and the U.S. dollar has gained 0.2% year-to-date.

Gold prices are even outperforming the tech sector, with the Nasdaq Composite Index up 17%.

Although investors have largely shunned the precious metals market, Bank of America noted that gold has seen the largest inflows in four weeks. The latest trade data from the Commodity Futures Trading Commission showed speculative positioning at a four-year high.

Gold's rally to record highs has been driven by record demand from central banks in the first half of this year.

The BoA analysts said that investors should be taking their lead from central bankers.



https://www.kitco.com/news/article/2024-08-26/do-what-central-banks-are-doing-buy-gold-bank-america

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All that money printing is going to catch up with us at some point. Gold is sending a signal, are you paying attention?

Fiat (fantasy digits on a screen) vs. physical reality. What do you have in your possession?

Ghost Mech said:

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Fiat (fantasy digits on a screen) vs. physical reality. What do you have in your possession?

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. An Aggie ring?

twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

American Hardwood said:

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twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

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Ag value farm land doesn't cost much to keep. It doesn't throw off much income, but it does generate more income than gold, and it almost never goes down. If we ever get in a situation where the price of land goes down appreciably, gold will probably go down even worse.

Gold is real wealth. Has been for thousands of years......

I believe its largely a hedge against fears of dollar collapse.

Especially if Trump wins.

CB's are hedging against widespread unrest when the leftists keep Trump from taking office...

American Hardwood said:

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twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

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Land doesn't have to cost you a thing in Texas. Ag exemptions are fantastic and a cattle, hay, hunting lease will easily cover the property taxes.

Gold can easily be stolen unless you insure it or pay to have it stored....which costs you money.

And here comes the 25% unrealized capital gains tax to water down both gold and land or any other valuable assets.

Did I say it wasn't?

Yesterday said:

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American Hardwood said:

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twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

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Land doesn't have to cost you a thing in Texas. Ag exemptions are fantastic and a cattle, hay, hunting lease will easily cover the property taxes.

Gold can easily be stolen unless you insure it or pay to have it stored....which costs you money.

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Ag exemptions aren't free either. There is effort involved in that, after just going through that process. And that is for Ag land only. Most times people are talking about investing in real estate for some kind of return, it isn't a bunch of pastures.

I wouldn't even know where to start with gold or silver

Gator92 said:

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I believe its largely a hedge against fears of dollar collapse.

Especially if Trump wins.

CB's are hedging against widespread unrest when the leftists keep Trump from taking office...

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Huh? You think the reason is Trump and unrest and not the years and years of devaluing the dollar via the printing press and wildly out of control government spending with no end in sight? Please tell me you are joking about Trump.

American Hardwood said:

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Yesterday said:

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American Hardwood said:

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twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

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Land doesn't have to cost you a thing in Texas. Ag exemptions are fantastic and a cattle, hay, hunting lease will easily cover the property taxes.

Gold can easily be stolen unless you insure it or pay to have it stored....which costs you money.

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Ag exemptions aren't free either. There is effort involved in that, after just going through that process. And that is for Ag land only. Most times people are talking about investing in real estate for some kind of return, it isn't a bunch of pastures.

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It doesn't have to be somebody trying to work a tax dodge with land in the exurbs of Houston or DFW. Buy some legit farmland with grazing and hunting tenants already in place.

You still seem to be thinking in terms of investment. I'm speaking in terms of SHTF. We aren't talking about the same scenario, otherwise I would agree with you.

twk said:

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American Hardwood said:

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Yesterday said:

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American Hardwood said:

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twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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Gold isn't an investment; it's insurance. Land will cost you money every year too, you don't get to keep it for free. Gold has that advantage.

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Land doesn't have to cost you a thing in Texas. Ag exemptions are fantastic and a cattle, hay, hunting lease will easily cover the property taxes.

Gold can easily be stolen unless you insure it or pay to have it stored....which costs you money.

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Ag exemptions aren't free either. There is effort involved in that, after just going through that process. And that is for Ag land only. Most times people are talking about investing in real estate for some kind of return, it isn't a bunch of pastures.

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It doesn't have to be somebody trying to work a tax dodge with land in the exurbs of Houston or DFW. Buy some legit farmland with grazing and hunting tenants already in place.

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I have farmland with a grazing tenant. It is meager income, basically enough to pay taxes and some basic maintenance. But it does allow me to own the land, so there is that.

American Hardwood said:

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You still seem to be thinking in terms of investment. I'm speaking in terms of SHTF. We aren't talking about the same scenario, otherwise I would agree with you.

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I don't think that was the subject of the OP, in all honesty.

The OP quote seems to favor your scenario, but the OP comment favors mine. Not really much to disagree about though. Gold has its place, land has its place, and other investments have theirs. I have all the above for different scenarios.

ETA: I think the OP quote and comment share one thing though, the runup on gold is not meaningless.

YTD Bitcoin is up 72%, think they need to reconsider what the best performing asset is.

Insurance vs wealth = two different concepts

But I get where you are going with it.

In the last 20- 30 years, gold is up 5-8x.

In the last 20-30 years, farm and ranch land with decent road frontage within an hour of any major metro area of Texas has gone up 10-50x. And in a few cases much more. Houston, Dallas, Ft. Worth, Austin, San Antonio, etc.
Just think of all the new suburbs and roads built in all directions around these areas. Amazing.

Saltwater Assassin said:

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I wouldn't even know where to start with gold or silver

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I've been told Dallas Gold and Silver (and similar stores) are really easy and have decently low premiums if you want to hold the coins/bars and speak to someone face to face prior to purchase.


If you want to got the online route - Both have good reputations and offer lower premiums.
https://milesfranklin.com/
https://sdbullion.com

You are always going to pay Spot Price (daily quoted market price) PLUS a mark-up. The mark-up varies upon supply/demand. For instance, American Silver Eagles from the US mint, will have $3 to $5 mark-ups BUT during times of high demand that can rise to double digits.



Getting your hands on junk silver (pre-1965 90% silver....AKA US coins) is a good option too. A 2024 quarter is worth $0.25 a pre-1965 quarter is worth roughly $5.41. Dimes, quarters, half-dollars, etc.

[url=https://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html][/url]

Quote:

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https://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html
Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:


$29.92
=
silver price / ounce on Aug 26, 2024.
.90
=
silver %
$4.1023
=
copper price / pound on Aug 26, 2024.
.10
=
copper %
6.25
=
total weight in grams
.0321507466
=
ounce/gram conversion factor
.00220462262
= pound/gram conversion factor (see note directly below)


The CME uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams.

1. Calculate 90% silver value :

(29.92 .0321507466 6.25 .90) = $5.4109706527



$5.4166229527 is the total melt value for the 1932-1964 silver quarter on August 26, 2024.

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Pawn shops are dubious.....

hunter2012 said:

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YTD Bitcoin is up 72%, think they need to reconsider what the best performing asset is.

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Do you think Central Banks are buying more gold or BTC?


And most importantly, who runs the global financial system?

I was watching some Doomsday prepper show on Discovery years ago. The dude they were interviewing/documenting had a stockpile of various things. One of them was cheap ass, bottom shelf liquor in plastics bottles.

Why, you ask? It can be used as barter or as currency when the world goes to **** Think about it. Throw an extra $7 on your groceries every few weeks and start stocking it with the essentials.

Great info, thanks man!

twk said:

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Lot of volatility in gold. Hard to be sure that you aren't buying at a peak. If you want a surer bet, I think I would buy land.

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What's your source on that chart? $2500 is the all time high. And back in the 1930s it was revalued to $20.67.

Quote:

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Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $487 in 2023) per troy ounce.

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neil88 said:

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And here comes the 25% unrealized capital gains tax to water down both gold and land or any other valuable assets.

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I agree with you on land, but physical gold would be very hard to track or to determine cost basis.

Can't speak for the most recent trends but gold has historically outperformed stock only when inflation was above 6% which has been rare. Thus, stocks have been the much better play historically.

To offset that, we've been above 6% inflation for several years now (in reality). The challenge is knowing what real inflation is since the government lies about it.

This screams of Bank of America trying to create liquidity so gold prices don't lag when ot rebalances to get back to it's 6% of portfolio gold target.

Gold sucks

The article is half assed written. Author states Nasdaq = tech sector.

Ghost Mech said:

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Saltwater Assassin said:

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Pawn shops are dubious.....

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Rut ro.

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SMM48 said:

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Gold sucks

The article is half assed written. Author states Nasdaq = tech sector.

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You are missing the point.........

The BoA analysts said that investors should be taking their lead from central bankers.

Think about this for a second.

One of the largest financial institutions in the worlds largest economy who's sole source of revenue is the use of the worlds most influential Central Bank's fiat currency, is recommending its clients to buy gold. Gold the anti-fiat asset.


We are all using a central bank currency in every transaction in our lifetime. If Gold sucks, why are central banks around the world holding and acquiring it on a record pace? Shouldn't they know better? After all they RUN the world's financial system......


I'll repeat what I said in OP.



Gold is sending a signal, are you paying attention?