Why you should not buy gold in 2024
Yes yes your right its a click bait title but don't blame me blame that random guy on YouTube Jaspreet Singh. And just like Jaspreet full transparency I still am into investing in precious metals as a whole the same as I was over four years ago when first introduced to this sector.
The following paragraph is going to be a bit of a ramble with my personal take on the topic but please feel free to skip this and just click the link below (or look op the title yourself in YouTube)
If I were to personally answer this question I would point to a few additional factors that are somewhat connected to Jaspreet line of reasoning.
What my contrarian online investing mentors have taught me is buy low and sell high, you search for discounted value assets, you usually find them in the hated ignored section of your local global stock market, you buy assets that mainstream media does not talk about, you buy assets so that you can get that quizzical look 🤔 from family, friends and work colleagues faces, ....like seriously you bought that asset???😏
Based on current statistics, popularity and price of gold does not fall into that category at present while it clearly did in the past (this primarily due to market price manipulation apparently.)
Check out Jaspreet Singh percent price increase calculation of gold in comparison to wages, the price of a home and the S&P 500.
What I also cannot figure out is what makes us believe that market price manipulation is now suddenly no longer applicable?
I now get paranoid when mainstream media is talking gold and how everyone is now buying gold bars at Costco.
https://www.nytimes.com/2024/04/11/business/costco-gold-bars.html
Or should I view this as 'a trend is your friend thing' and just go with the flow?
Regardless of what I think this and where price action goes mid to long term Jaspreet gives a very interesting take on why he still buys gold.
Its not so much about the buying of gold in itself its the motivation, reasoning and ones immediate to mid term expectations that's the issue.
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