Why You Shouldn’t Be Fooled By “Gold-Buying” Headlines!
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LEARN MORE ABOUT: Precious Metals IRAs
HOW TO INVEST IN GOLD: Gold IRA Investing
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Why You Shouldn’t Be Fooled By “Gold-Buying” Headlines!
In today’s highly volatile economic climate, it’s no wonder that investors are always on the lookout for safe havens to protect and grow their wealth. One of the most time-tested methods of preserving value has been investing in precious metals, particularly gold. However, it is crucial to be cautious and not get deceived by attention-grabbing headlines touting quick gains from “gold-buying.” Understanding the reality behind these headlines is essential for any savvy investor.
First and foremost, it’s important to distinguish between legitimate, long-term gold investments and short-term speculative buying. Genuine gold investments involve purchasing physical gold or investing in gold-backed financial instruments. These investments require careful consideration, research, and a long-term outlook. On the other hand, the “gold-buying” headlines that often make the rounds are often nothing more than tactics employed by scammers or opportunistic sellers looking to make a quick profit.
Scammers prey on the emotions and fears of investors, utilizing sensational headlines to manipulate their targets. They make unrealistic promises of astronomical returns in a short period, playing on the desire for easy money. Genuine gold investments, on the other hand, offer stability and act as a hedge against inflation and economic uncertainties. Therefore, patience and a vigilant approach are necessary when considering any investment in gold.
Furthermore, investors should be aware of the source of these “gold-buying” headlines. Often, they come from less reputable sources, such as questionable websites or individuals with a vested interest in promoting a particular agenda. By not falling prey to these deceptive practices, investors can safeguard their hard-earned money from being misused or stolen.
It’s also vital to understand the market dynamics that drive the value of gold. Gold prices are determined by a range of factors, including supply and demand dynamics, interest rates, geopolitical tensions, and overall market sentiment. Consequently, staying well-informed and keeping a watchful eye on these variables is crucial for making sound investment decisions.
One must remember that gold is not a one-size-fits-all solution. While it has historically been a stable investment, it may not be suitable for every individual’s financial goals or risk tolerance. It’s always recommended to consult with a financial advisor or expert before making any investment decisions to ensure they align with your specific circumstances and goals.
In conclusion, the urge to be swayed by attention-grabbing “gold-buying” headlines can be especially strong when faced with economic uncertainties. However, succumbing to such temptation can lead to financial loss and disappointment. A well-informed and cautious approach is essential when considering any investment opportunity, including gold. By doing thorough research, seeking advice from professionals, and staying informed, you can avoid falling victim to misleading headlines and make sound investment decisions that fully align with your financial objectives.
Gold is a good long term investment it will stop your money losing its value …this fool is giving bad advice .
Does Dave know that from 2019 the global central banks have been buying gold and silver at an all-time record pace? That the BIS announced that gold is now the only other tier one asset to the dollar? That JP Morgan had to pay a $920 million fine for fixing the precious metals market on its way to accumulating 45 million ounces of gold and 1.2 billion ounces of silver? Dave is convinced the fiat banking system is here to stay when it’s in the verge of global collapse. We’re going back to a gold-backed system and I think he knows it.
That gentleman was 100% true I bought gold back in the '90s when it tanked to less than $400 an ounce now I am almost 60 it would be stupid to invest in a yellow rock 100% true
I disagree with corn and oil. Those are necessities in life unlike gold. Oil is Actually useful. Corn is actually very useful. So there will always be a demand for it. Over the years the price of oil has simply gone up, and it will more than likely keep growing up until about 10 years when we have better electric infrastructures
It’s amazing how many people won’t listen to what Dave is saying and comment with programming from bullion dealers
Rick Rule needs to educate this guy on gold.
I agree with Dave. This is what people fail to realize. Let's say Dave is wrong and the economy goes under and we are all trading Gold. Unless you have that Gold physically stored in your house, who ever has it will simply keep it. What incentive will they have for giving it back to you? You call them up saying "Hey can I have that gold that I gave you paper money for back". They will respond "Yeah your money is useless now. I'll be keeping your Gold" And you're lucky to here that. Chances are they hopped on a plane to another country somewhere and took the Gold with them.
lololol When he said "It's a Rock……….that is yellow" hahahahaha. Yeah Gold today is useless.
Doesn't gold maintain its value?? What is he talking about?
I don't like gold personally. It's to tricky. Its only beneficial if you get it for free or you like ripping people off.
How that Law suit Dave
I do just the opposite, mainstream newspapers tell me to do. For example selling my gold or stock investing.
Gold is volatile just like everything else. You need to know when to buy and sell. In the middle of 2020 gold was almost $2100/oz. If you bought it then you would have not made any money yet. If you needed to sell near the end of 2023 it was just over $1600/oz and you would have lost money.
Consider asking the people of Venezuela their opinion on the matter: Which holds greater value to them, a piece of paper or pure gold? Alternatively, you could visit Sweden, where the Krona has depreciated by 40% of its value, and inquire about their perspective. Another approach would be to approach individuals in Germany who are over 90 years old and ask them about their firsthand experience with hyperinflation in 1923. Pose the question of whether they would prefer possessing a wheelbarrow overflowing with worthless money or having a piece of gold securely tucked away in their pocket, worth much much more.
Gold is more up and down than stock market???!?!! What Dave? Probably most asinine comment I have heard in a while. Central Banks buy gold. Governments buy gold. It's not just some yellow rock. This is bad advice. Everything you said about commodities could be applied to tech stocks who are trading 50-200x multiplies. You should post a retraction.
They can't take what they don't know you have. There's a lot of scenarios where having a liquid asset such as Gold can come in clutch. If his wife ever decides to get a divorce, she can take the car, house, savings and anything else that can be proven in the system. Not so with physical Gold.
You pay sales tax when you buy gold in New Mexico. 7%, so there's that.
yeah I’m not taking this advice.
Really horrible advice….
Precious metals won't stop being valuable anytime soon, if ever.
Gold has been valuable for over 3,000 years. Silver has been valuable for double that.
Compare that to the U.S. dollar, or any other modern currency. Hec, compare it to any country's currency in history. How many kept their value for 6,000 years? 3,000? How many countries even lasted 3,000 or 6,000 years?
What will be worth more if the dollar collapses? A piece of paper with some dude's face on it or a brick of precious metal? Seriously, currency and businesses are some of the riskier investments. You could get rich, but you could also lose everything in a blink of an eye.
Gold will always be worth /something/. Worst comes to worse, you can melt it down and make stuff with it. Ideally though, you don't want to invest everything in either one. You should diversify your investments. "Don't put all your eggs in one basket."
Invest in both. If the dollar collapses, you still have your gold. If gold becomes worthless, you still have your dollar. It's far less likely that both will become worthless at the same time than just one…. unless there's some sort of apocalypse or civilization falls. If that happens… I guess whoever owns a warehouse of toilet paper is rich.
Dave said gold is up and down but then complains it hasn't gone anywhere… no return. Sounds stable.
When all the Boomers that hoarded gold start to pass away and their kids dump it into the market. The price will crash so quick in such a few years that it will be unbelievable.
Shallow
They are metals, not rocks
Gold is a multi purpose metal. It can be used as currency or for jewelry, utensils, hair pieces ect. Paper money is useless. Dave my friend. You might be in tough position, should when the dollar collapses. Unless everything is backed by commodities.
I agree that gold shouldn’t be used to invest or get rich over time. It is basically a more secure “savings” than just a digital number in your savings account. It’s just like saving cash except it is less liquid but it has value as itself meaning the metal does not need to be backed by a government to be worth something.
My question is what is the outcome going to be with 150 million dollar law suit being levied against dave ramsey? What was it 30 million dollars alleged scam you received over 5 yrs?? So gold and silver. I bought many silver eagles and JM Mathey bars 5 yrs ago and back for 5 yrs. They have tripled in dollars. In another 5 yrs i bet they quadruple from todays value. Ramsey is very wrong about precious metals. The value or buying power decreases by tje day from its inception in 1913 the beginning of the FED. He knows this. Sir you with the 401k would be wise in my opinion to buy a small percentage of gold/silver.
You do realize that every fiat currency in history has ultimately gone to zero? If you think the USD, whose value depends on the moral fiber of the most incompetent, degenerate, avaricious, selfish assholes the world has ever known, is going to be an exception to this, I think you are in for a surprise.
If gold is so worthless why are Central Banks buying up gold at a record pace?
Someone ask Ramsey why so many central banks around the world are buying up gold?
Dave is a massive wolf. Gaslighting the hell out of his listeners.
This is some of the worst advice I’ve heard. Ramsey would rather put money in a mutual fund then gold……. Yikes!
David Ramsey that's no idea what he's talking about.
I like Dave's principles but when I hear his take on this subject it shocks me especially in light of the ongoing erosion of our dollar via brrrrrrr printing, the weaponization of it, and the unsustainable debt levels!
Dave, you won’t have to worry about us buying gold much longer, the big banks are buying it all up.
He said Gold has no magical properties .. LMAO someone tell him Gold's ability what it can do .. he clearly has no idea why Gold is most valued smfh
THE USD DOES NOT CREATE ANY REVENUE YET YOU TELL PEOPLE TO KEEP IT WHEN IT IS DECREASING IN VALUE AND MAKING PEOPLE POOERER .. 401k LMAO
Gold is a hedge to protect your wealth not a investment like a business it is a SAVINGS! .. when you make all this money this fool tell u put it in a 401k when Gold has out performed a 401k by a lot
Dave is a SYSTEM Puppet he gives advice miss leading advice half truths if you're a blind tool of the matrix you would think what hes saying is ground breaking!
Wrong