I have some friends who are into owning gold. Their rule of thumb is:
You can own gold mines on paper, but gold, only in hand.
There is a belief that there exists a lot more paper gold than actual gold. So when the run on the reserves starts, the price of gold will explode as billions of dollars worth of gold in the market disappears.
Although I’m not sure if Costco buyers are thinking like that.
You can own gold mines on paper, but gold, only in hand.
There is a belief that there exists a lot more paper gold than actual gold. So when the run on the reserves starts, the price of gold will explode as billions of dollars worth of gold in the market disappears.
Although I’m not sure if Costco buyers are thinking like that.