POG13 Dec 2024 13:49
Hi All. Whilst central banks and the smart money around the globe are still big buyers of gold, jewelry demand has dropped off and crypto has attracted buyers away from gold. What do they know that the banks and smart money dont? The answer is nothing and the gold market is misunderstood by many. The POG is driven by many factors but the biggest by a country mile is the debasement of fiat currencies and the ever growing mistrust of that fiat. Crypto is a speculative asset and can move up or down at the click of a tweet and these movements are extreme. Maybe they will continue to explode in price to infinity but my bet is when fiat does finally collapse, as it must, it will take the crypto market with it.
Gold, on the other hand, will continue to preserve wealth as it has done for millennia.
The reason i have invested in GGP is not because i am a fan of mining but i love the idea of buying gold at a massive discount and that is what GGP offers. ATB Speedy