Gold: Past, Present, and Future

If you happen to be holding a significant amount of wealth, utilizing a bank safety deposit box remains the most prudent course of action...

bluebison55 said:Sorry if this is a bit off-topic, but I didn't want to start a whole new thread just for this, and I figured the experts here would know the deal.

Is there actually a safe place to store physical gold?

Don't get me wrong—I’m not asking anyone to tell me where they hide their stash; I'm not that crazy. I'm more curious about whether things like a bank safety deposit box are even an option, or if there are legal limits on what you can hold. I've heard rumors that it's actually not allowed, but I can't find anything clear about it on any bank websites.

I realize a lot of people here don't trust the banking system, so my question might sound a bit silly to some. But honestly, I deal with attempted break-ins at my house every couple of years, so keeping everything under my roof just doesn't feel smart. I'd much rather have it tucked away somewhere else.

Yeah, I've heard from a few people that banks won't touch gold storage either. Maybe that was true a few years back, but these days most major banks allow it: https://www.chase.com/personal/bank/safe-deposit-boxes
https://www.wellsfargo.com/deposit/safe-deposit-boxes/

Not sure how big those tiny little boxes are, but you could probably get by with a medium one for less than $333 a year. There's also a cheaper route if you just want to store the gold itself: https://www.kitco.com/storage/

I don't understand why everyone is making such a fuss here.
Honestly, what kind of safe would you even need from $333... unless, of course, you were sitting on a massive stockpile of gold bars worth millions of dollars.
If a person just holds a few small bars, even the smallest available safe will suffice.

A single 250g gold bar, valued at well over $10,000, is quite miniature in scale... actually, its dimensions are significantly smaller than a standard Hershey's chocolate bar.

If my memory serves me right, bank vaults aren't even insured for anything over $3,000.
+ there’s also another reason why you might want to steer clear of banks—does anyone actually know how long bankruptcy proceedings drag on here in the States? If I’m not mistaken, by the time you finally reach the end of a legal insolvency process, you’ll be long gone.
I’m not saying this is going to happen—especially not with the big players like JPMorgan Chase—but if someone is investing in physical assets, they probably want to be able to sleep at night without worrying about red tape.
But hey, don't mind me; I'm a total paranoid at heart, and half the time my worst-case scenarios never even materialize anyway..

So, what was it that you weren't keeping in your JPMorgan Chase account?
Since when did you decide to switch up your strategy?

Michael Morgan5 said:So, what was it that you weren't keeping in your JPMorgan Chase account?
Since when did you decide to switch up your strategy?

I’m done holding it—honestly, I’m just over paying those fees. I’ve been sitting on gold for four years now, and besides, I don't think they even offer those small private safes anymore.
Since my business isn't tied down here in the States, if things ever go sideways with a legal judgment or an attachment, they could just freeze my account—and I'm pretty sure that would lock up the safe too, since everything is linked through the system. I'm not about to let my assets be totally exposed to the system like that.

Central banks are stockpiling gold in anticipation of a crisis: Reserves hit their highest levels since 1971.

According to data released by the World Gold Council, central bank demand for gold surged last year, reaching heights not seen since 1971. It is quite an interesting organization, really, acting as a sort of global hub for everyone involved in the precious metals market—from jewelry makers to coin mints—with its headquarters situated over in the United Kingdom.

The report suggests that in 2018, these central banks scooped up 651 tons of gold, which represents a staggering 74 percent jump compared to what they were doing in 2017. By moving in such large quantities, these institutions have bolstered their total reserves to approximately 34,000 tons, marking the most significant level of security we have seen in nearly half a century.

- Bloomberg has been analyzing these latest figures from the World Gold Council, noting that these purchases serve as a way for banks to diversify their foreign exchange holdings amidst various periods of political instability, effectively signaling a growing confidence in the intrinsic value of gold.

While some analysts point toward political risks as a driver for this demand, others suggest there is a deeper, perhaps more unsettling, fear lurking beneath the surface—specifically, the dread of a new global economic or financial meltdown. The World Gold Council indicates that central bank needs for gold in 2018 totaled 4,345 tons, an increase of 186 tons over the previous year. It is worth noting that the lion's share of the world's gold reserves continues to be held by the Federal Reserve.

Looking at who was most active in the market last year, the central banks of Russia and Turkey stood out, purchasing 273 tons and 51 tons respectively. One might argue that the Russian central bank's aggressive stance is a calculated move to reduce its reliance on the US dollar, essentially trying to build a buffer against the sanctions imposed by the USA and its allies against Moscow.

On the buying side, Canada’s central bank was also quite active, whereas banks in Australia, Germany, Indonesia, and Ukraine were among those more active in selling off this precious metal.

On the global stage, the price of gold climbed nine percent over the last three months, settling at a current rate of $1,321 per ounce. It is estimated that central banks spent roughly $22.7 billion last year just to pad those gold reserves.

It’s just a damn shame that their 74% surge in purchasing power didn't actually translate into a matching spike in prices, you know? 😁

Mark Sullivan62 said:It’s just a damn shame that their 74% surge in purchasing power didn't actually translate into a matching spike in prices, you know? 😁

Maybe all that stolen gold is being funneled straight into Afghanistan, Iraq, Libya—basically everywhere else they go to "spread democracy."

Robert Vaughn10 said:Fair enough. It’s worth noting that both Jim Rickards and Rob Kirby called that 20% stock market crash with precision. That isn't a minor miss. Jim Rickards was actually back on Twitter recently doubling down on that exact sentiment. Mike Maloney weighed in too, focusing on how interest rates and debt levels render any stock market gains largely irrelevant. If you ask me, a defensive posture was the only move, yet there was zero urgency when the housing bubble was actually inflating. Given current interest rates? Eurasia has roughly 4 billion people, while the US sits at about 300 million. This smells like a banking crisis to me.
On the other hand, Jim Sinclair—who really knows his way around these markets—has identified $1,400 per ounce of gold as the critical "inversion point." We aren't far from that mark. I’d go a step further and suggest the most massive percentage swing in the metals market will happen within the very first year.

"Keep an eye out"

So, how do you explain everything moving up simultaneously?
The Dow Jones... crypto... metals... real estate...
Something has to snap back soon. If it’s the Dow Jones, that $1,400 mark could be hit faster than anyone expects.

Gold prices have gone absolutely nuts over the last three weeks. I’m guessing some big players—maybe even governments—are scooping up massive amounts of bullion. Does this mean they're bracing for a crash that's closer than we think?

https://www.armstrongeconomics.com/m...-estates-role/
Martin Armstrong discusses the current crisis and the best ways to hedge—real estate is part of the equation, sure, but metallurgy is also becoming a vital component of a solid hedge strategy.

Michael Morgan5 said:So, how do you explain everything moving up simultaneously?
The Dow Jones... crypto... metals... real estate...
Something has to snap back soon. If it’s the Dow Jones, that $1,400 mark could be hit faster than anyone expects.

We're just waiting on the Federal Reserve. At this point, the question is whether we make money or stop making money.

Since the US holds the privilege of having the world's primary reserve currency, they can basically print money until the sky turns blue because there’s always someone out there desperate enough to buy it. Meanwhile, they’re busy looting gold—those ancient relics of the past—from other nations, even while all those Wall Street banksters and their cronies insist that gold isn't even "real" money anymore. 🙂

https://www.zerohedge.com/news/2019-...-tons-its-gold

The Federal Reserve decided to back the stock market. Gold barely budged, moving just $10 an ounce. Wall Street is already rubbing its hands together. It makes me wonder: what was the point of hiking interest rates since 2015? I’m just starting to ask questions.☕
If I were a banker, I’d much rather push things into a new credit cycle and just eat the losses for a couple of years. Not to mention, if rates spike too hard, regular people are going to feel the sting.
We’ve covered corporate profits and stock trading volumes. But the real blow might land right here:

https://www.bbc.com/news/business-47644268

Half a trillion dollars, depending on how you crunch the numbers, isn't exactly pocket change.

"playing overtime"

Penultimate report:

https://www.zerohedge.com/news/2019-...-deadline-2025

So, one minute a deal is "90% likely," and the next, we’re looking at a "five-year horizon." I'll say it again: watch those backroom negotiations. You have the island dwellers over there making sure everyone knows how much their pound sterling matters. Personally, I see that as secondary to the actual trade deal. We also have to consider Tim Cook from the American giant Apple, who is keeping a very close eye on these political shifts.

"Even the futures are starting to look interesting."

Projected trajectory:

https://www.zerohedge.com/news/2019-...325bn-goods-be

"Technical analysis suggests a negligible deviation."

"Hawk" reports:

https://www.zerohedge.com/news/2019-...hina-trade-war

Regardless of how they play these moves, we are at the end of the credit cycle. You have to hand it to Apple; they are navigating this quite well. Meanwhile, CNBC is busy labeling them as a bear market play. If we see another stock market crash similar to what happened six months ago, quantitative easing will be inevitable. For now, the Dow Jones slide has been halted, but it has been nine months since we saw those 26,000 levels.

"Find the lead author."

Reaching a breaking point:

https://www.zerohedge.com/news/2019-...ar-middle-east

A growing number of analysts are signaling that if gold breaks the $1,400 mark per ounce, a jump to $1,700 isn't far behind. I’m inclined to agree. Even the bulls on the "wrong side" of this trade are starting to pivot. Suddenly, there is an 80% probability of a rate cut, with plenty of chatter about a move larger than 0.25%. It all aligns perfectly with President Trump’s push to bolster domestic manufacturing. One can only conclude that...

"fresh capital is required."

I suspect most people are just sitting on their hands, waiting for that all-time high to break 😁