Gold Is A Giffen Good... Get Some While The Gettin’s Good + An Unpopular Opinion about Gold

in mene •  last month  (edited)

2DADADF5-F68E-4B4E-A571-9963FF60027C.jpeg

Occasionally I have to laugh at myself and my fellow goldbugs.

I can say that because I am one.

5F09F544-F734-4692-807B-5CA113AD7CCD.jpeg

For years I have seen people (including myself at times) become obsessed with buying something as close to “spot” price as possible.

Although I am guilty of this myself, its pretty silly when you think about it. If you are buying gold or silver, there is probably at least some expectation in your mind that it will go up in price in your local currency.

Do you have an expectation that it will go up more than the couple percentage points you are chasing for that close to spot price deal?

For me, I try my best not to waste a lot of time thinking about it.

In my unpopular opinion, the time spent worrying about how close to spot you are getting something for is a mitigated advantage because every day you wait to buy gold is another chance it might take off in your local currency

7726D075-4C65-45A9-B45A-35EF6E04F36D.jpeg
https://www.goldmoney.com/research/live-prices-and-charts

Today gold sits near a 52 week high in USD terms and near an all time high in other currencies.

Gold tends to be a Giffen Good:

https://en.m.wikipedia.org/wiki/Giffen_good

TLDR:

People want it more the more expensive it gets.

DE76BC54-32C8-46F9-BCDB-9FD845E69679.jpeg

I understand there is a psychological satisfaction in thinking you are getting a “good deal” on precious metals, but I would argue that its all a good deal at this point in the cycle and that precious metals are so severely undervalued that its not worth the risk of waiting around to shave off a few bucks.

Small example....

On Wednesday this spin top:

BB4868B7-C6D3-4999-9CFC-78CACE77973F.jpeg

Today:

5C34B74A-2489-47E7-B2A3-5C375DD6BB22.jpeg

Since Mene prices its 24 karat gold by weight, this Spin Top is just about $20 more today that it was 48 hours ago.

It’s the price of gold itself that is moving and not the price over spot.

Would you rather:

1.Buy an ounce of gold for $1000 spot price with a 10% premium

2.Buy an ounce of gold for $2000 spot price with 5% premium.

Think about it, you gold bug!

EED99A3F-6A7C-4280-89D0-F8E07ED62BC1.jpeg

Earn $5 in Mene credit for signing up for Mene with this invite link:

http://mene.com/invite/JrT26p

Or just scan this with your phone camera:

FAAA01A0-D922-436A-B68E-9CE62128C558.jpeg

C247AB9A-23F7-4B35-9268-969E22176274.jpeg

79CAAC64-1E6B-4479-83EE-A878C15E177F.jpeg

Investor Presentation: https://mene.com/investors/docs/Investor_Presentation.pdf

Check out my instagram:
https://www.instagram.com/p/BxcsiABhzzv/?igshid=ozavtepl1r2f

Earn $5 in Mene credit for signing up for Mene with this invite link:

http://mene.com/invite/JrT26p

To sign up for a Goldmoney Holding start here: https://www.goldmoney.com/w/goldmatters

Sign up for steemmonsters: https://steemmonsters.com/?ref=goldmatters

Jewelry Worth It’s Weight in Gold:

Menē crafts 24 karat gold and platinum investment jewelry™ that is transparently sold by gram weight. By combining innovative technology with timeless design, Menē restores the ancient tradition of jewelry as a store of enduring value.

I am on a personal mission to spread the word about Goldmoney and Menē through any means necessary. Goldmoney\Mene allows individuals to empower themselves by protecting their savings by owning small or large amounts gold previously inaccessible to regular people like you and me.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

See Steemians unbox Mene:

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!