Why Gold Is So Expensive | So Expensive
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- เผยแพร่เมื่อ 18 ต.ค. 2019
- Editor's note: The estimated amount of gold left in Earth’s crust is 55,000 tons, not 55 tons as the video states. Business Insider regrets the error.
Gold is the shining embodiment of wealth. One ounce can cost up to $1,500. But other metals that are rarer than gold are much cheaper.
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Why Gold Is So Expensive | So Expensive
I don’t resent anyone who’s rich but someone who eats a steak covered in gold lacks class.
What about mr.beast?
CSX7888 King .....huh?
I hear it doesn't even taste like anything.. which makes it all the more worse
Suni Victor there’s plenty of rich people that I despise or think “how did this clown get rich?” but I don’t resent them for being rich. Gold should be on display, used in products, or in a safe - not pooped out.
Very poor taste?
It’s shiny and our ancestors liked it so we just kinda keep rolling with it
The fed stole all the gold
@@blackham7 They didn't "steal" anything, they acquired all of the gold legally so did the Chinese and Russians.
@@hunterfurlong8642 it was legal because they changed the law to allow them to take all the gold
@@hunterfurlong8642 I remember all those commercials where people traded their gold in exchange for paper
The annunaki hardwired us to seek gold
Analysts at JP Morgan have predicted that Bitcoin (BTC) could fall below $1,260, while banks will not benefit from blockchain for at least three to five years, Reuters reported on Jan. 24.
According to Reuters, analysts from the major global investment bank think that the true value of cryptos is still unproven, and that they only make sense in a hypothetical “dystopian” event, wherein investors have lost faith in major traditional assets like gold and the U.S. dollar. The analysts stated in a report:
“Even in extreme scenarios such as a recession or financial crises, there are more liquid and less-complicated instruments for transacting, investing and hedging [than cryptocurrencies].”
It's best to seek a manager right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an asset manager, seeing that their entire skill set is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using an investment-coach for over 2years+ and I've netted over “$900K”.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
’Sonya lee Mitchell’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Knowing this it seems like a huge waste to use gold on jewelry.
Where else should it be used. ?
I hardly care much about jewellery honestly
@@onaisarehmani2884 technology
@@onaisarehmani2884 you didn't watch the video ???
@@LevSeven_ well, if its so valuable for technology be prepared to pay for my cold chain when the mines run out.
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves.” - Norm Franz
I just find myself wasn't sure , thanks
I like silver more than gold actually
Univer students: Guess I am a slave
I dont have any debt, I am happy to be a peasant 😂
It is impossible to return to the Gold Standard. See this video: th-cam.com/video/iiKr-i022mY/w-d-xo.html
Earth: Gold is very rare.
Rich people: Let's eat gold because LoLs
They even shit it out as-is.
No nutritional value. Id search their poop and call it “mining”.
you don’t have to be rich. a bakery near me makes gold plated cakes that cost around 20$, sure might be expensive for a small piece of cake but it’s a very interesting experience
@@techforever1970 Sewage has a higher concentration of gold than most gold mines nowadays, I'm not even joking.
It's very thin. I have a roll och gold but it's mostly paper and it's not worth much.
They are coming up with ways to flush money down the toilet.
People choose to buy gold for various reasons, such as it’s historical role as a store of value and medium of exchange, it’s potential as a hedge against inflation or currency devaluation, and it’s relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolio due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance and financial situation before deciding.
I find gold investment reliable and aim to buy more to recover losses. Silver is also a good investment but differs from my collectibles. Clear investment goals and education are very crucial.
That is why I work with John Desmond Heppolette, who introduced me to a better financial community, an established organization where I learned how investing works and how to make the right choice of investment, as well as free books, courses, and daily lectures. You also get to meet new people, which was the best decision I ever made..
I just discovered his exceptional resume when I made a google research of his full names online. Base on his online resume, he appears knowledgeable and well accredited! Thanks so much for the information..
Investing in gold, silver, digital currencies, real estate and stocks is a good idea, a good investing system would put you through many years of success.
Thanks ChatGPT
At the beginning of the year, I have continued to purchase a few equities, but nothing significant. Why am I being so unkind to this? The fact that others in my field make six figures each piece, nevertheless, motivates me to want to be the first member of my polygamous family to earn a million dollars. I am fully aware of the expense of working more to get more money.
If the market has taught me anything, it's that it typically makes a comeback, but I can't seem to focus on the long term, particularly because crucial factors like my retirement and my reserve are having a devastating influence on inflation. As soon as is practical, I need a solution and a data trajectory that I can trust.
Not because you're doing anything wrong, but because you lack the understanding necessary to prosper in a bad market. As they will have experienced the 2008 financial crisis, it is advisable to seek out a financial advisor who has generated a sizeable profit through difficult times like these
@@alexanderjames3043 Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this teacher?
@@waynestones Yeah, I have total faith in a financial advisor who is certified by the US SEC. In fact, I'm not sure whether I'm allowed to disclose this, but I'd suggest checking up "sharon lee casey" because she was a huge issue in 2020. She is my mentor in addition to managing my investments.
@@alexanderjames3043 She has excellent credentials and an outstanding occupation. Hence, I swiftly copied Sharon's whole name and typed it into my browser. I'm curious to discover why she is so busy, and despite the fact that she has unquestionably good credentials, I nevertheless schedule a meeting with her.
Gold: I'm a useful mineral used in electronics and even power cables because I'm an awesome conductor!
Humans: imma eat you
Gold:🤡
Gold: A heavenly interdimensional metal which is a unique electric conductor for circuits and cable wires and a historical standard for economy
Humans: Imma wear you
@@reyabaolumiguejr9863 Guess which material is used throughout lithium batteries.....Gold! It might not be superior to copper but It is just as important.
Then drive a train. Lol 😂
lol
Short Answer: It's expensive because its gold.
expensive because people want it. that's where product price come from .. demand .. and of course add greedy capitalism.
if people, for example, started to love silver and decided that it's more desirable, its price will skyrocket
Eslam Abdo no it’s just more rare
@@93rjose that's true, it's relatively rare and takes part in gold pricing. but a big chunk of the price still comes from the demand
@Rolman80 80 greed is as old as humans. Capitalism is a manifestation of greed in our modern society.
But still cheaper than PRINTER CARTRIDGES
Note for the editor: Watch main plates are made of brass generally, not gold. If they aren't brass then it is made of a harder metal usually to prevent flexing on a super thin movement which would affect the way gears engage. I only say this because the beginning explanation of gold is over video showing a watchmaker doing perlage on a brass main plate. Probably only watchmakers will notice, but just wanted throw a little knowledge out there in case it actually mattered to anyone.
Bro gold is out here being one of the most useful materials on the planet but people really only care that its shiny
no they care because its rare and is an extremely safe investment
and also edible which literally taste nothing ;-;
Lies again? Sexual Favors
@@randylahey2242 This is it. The fact that it's shiny and can be made in to "pretty" jewelry is just an added bonus.
@Parker Darker No, people care because it's rare and useful, child. Did you even watch the video? Smh
Gold is money, everything else is credit.
- J.P Morgan
Exactly
Justin Trudeau gold available for sale
@Justin Trudeau everthing scares is expensive thats how our economy works.. and thats why we have hoarders
Justin Trudeau diamonds no silver yes
Floor is floor
- Buzz Lightyear
I could never describe the contempt I hold to that “Genius” who thought the idea to put gold in food. It is an insult to the element.
Someone finally said it
What's better than being able to eat gold? Being able to shit gold 😎
I agree with this sentiment 100%. A rare and uniquely-colored metal...and it's being used as a tasteless decoration on food. Disgusting.
the only use of it is that youtubers pull in millions of views by stupid people by eating it
Tell me where they live and I will do the dirty work of cleaing their toilets 😉 no need to flush. I got this 🤣
We tried the gold steak once, the gold just make it less appealing.
Try to imagine eating steak with very soft foil
Eww
𝒉𝒐𝒘 𝒊𝒕 𝒄𝒐𝒔𝒕
@@glitchedrobot4670 yeah it was gross, the steak was good but the foil is just so unessecary and it made everything worse
@@user-ou5jm4mo4c idrk, it was my parents who ordered it since it was their mining company's 10th year anniversary, and yeah the gold was from them-
Scrape it off an put it in your pocket 😄
Imagine being part of the last generation in history that still could dig gold from the soil.
Hello there! 👋
Q: Why is gold so expensive?
A: Because its not cheap.
Thanks FBI for that information
Thank you Mr.FBI
Very cul
Go home fbi, youre drunk
“Every 60 seconds in Africa, a minute pass”
@@phamdunk3345 thanks 4ur infotmation
"Gold is very hard to mine"
This is why should enchant your pickaxe with efficiency
*d u h*
@@Nahte5 ur profile pic tho 😶
Or go to a Badlands biome where there's gold galore!
E x a c t l y
This comment is funny
That guy : Gold is a perfect conductor of electricity
Silver and Cu : are we a joke to you??
silver and cu is good but not as good as gold
Platinum is even better
@@yourboyfriend9480 erm...if we are talking about conductivity silver is more conductive than gold
@@vianneyneba5856 In terms of conductivity...no.
Not even close.
@@user-em8fq2ev4b they use gold because it doesn't oxidize
This is by far one of the funniest videos I have ever watched. 3.9 billion years ago. I'm still rolling in stitches.... almost peed myself.
the video didn't answer why more rare metals are alot less expensive than gold...
It absolutely did.
Less demand.
none are as useful as gold.. think conductivity.. electronics.. dentures.. etc..
Cr_hazy platinum is way better then gold In conductivity
Hesham Hassaan 1:13
I heard Gold tastes basically nothing, so rich people are actually just wasting gold just for the lols....
yeah and we like it that way
Madhav Ignihir you don’t have to believe, belief is good for religions, they offer you no evidence, they just tell you to feel it in your heart and stuff like that, reality doesn’t ask for believing, it is not questionable.
Madhav Ignihir I shall, If you were part of aristocracy, you wouldn’t even try to underestimate me.
did you think gold would taste flavorful?
Justin Maish Well, it has a nice feel normally but gold leafs have no taste... Maybe it was a small dose, I’ll try a small pearl made of gold maybe it has some taste.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works
Assets that can make one successful in life
I.Crypto
2.Stocks
3.Shores
It's not ignorance but unprofessional broker in the market....
Investing in cryptocurrency now will be the best thing to do especially with the current rise in the market....
people are really making a lot of money from it..
50% share in jewellery because it is investment for middle class and upper class people. Although they charge making charges which costs more.
"Can we have another bottle of mercury please, this gold steak made me thirsty"
@@sijdnsd6460 well mummys arent real too
@@dhruvavikas1632 Wait you seriously think mummies aren’t real?
@@iwillstealbradyandlockhimi3523 i mean mummies that are shown in movies the ones with bandages all around and walking with their arms forward
@@dhruvavikas1632 oh ok it sounded like you meant that the dead mummies weren’t real
Funny thing is, Mercury can be transmuted into gold.
Geologist actually estimate that there’s just as much gold left in the ground as has been mined.
There is much more gold just like oil and natural gas diamonds but you can’t allow it the world will be destroyed if that happen
Nah all the current gold extracted from earth only equates to about 20 meters all around so there's not that much
A one dimensional unit doesn’t make sense. Also a 2 dimensional unit (area) wouldnt make sense either. U sure ur not meaning 20m^3 (volume)
There is way more gold then theses idiots tell us we can only dig so far in the earth if we can go deeper they will find a lot more then they r telling us and as for only 20 years left of gold on earth come on guys we r not that stupid.
They dont know anything regards the true amount to be got hold of. Its speculation5
Could you imagine going for a stroll one day and discovering a 17lb gold nugget just chilling in some gravel?
I love... gooooooooold! The look of it, the taste of it, the smell of it, the texture!
“They send it back to the universe, where it came from.”
Bruh the earth is also in the universe
Gold came on Earth in same way as others elements, and yeah, why people still talk about Earth as it's not part of the universe?
Extreme Madness I think people talk this way because yes we are part of the universe but the vast majority of the universe I beyond the possibility of human interaction with it even with the most crazy future technology. So people tend to differentiate between us and it. It’s like being on an island being unable to swim but seeing land but knowing you’ll never get there so you just start thinking of it as separate from you.
Ikr
gold a mineral came from earth while uranium and plotonium a mineral outside earth, carried by an astoroid drops to earth. it was a prime ingridient for making nuclear war head, 179,600 tons gold came from ophir and 124,000 ton used as monetary unit, distributed in 155 nation including 40,000 ton for US dollar as standard monetary unit in world market. 55,000 ton still burried and the bulk of it is iin the philippines. and the philippines is the ophir.
They are covertly saying that Earth was created by God😏
It’s rare
It’s real
It’s difficult/expensive to get
It’s useful
It’s beautiful
My mother have a pair of gold earrings.
My Family have a collection of gold necklaces. xD
Even though it’s very expensive, we bought it anyway. :p
Gold is very heavy btw.
@SAA that was collected over literally hundreds or even thousands of years. There's lot's of gold available only because it actively seeked out to be mined.
do you speak about white people ?
It's G-O-L-D
LogicTech That just about sums it up, yes.
Nice video
Thanks for sharing such knowledge about gold
I NEEDED THIS, I NEEDED THIS I HAVE BEEN BLESSED!
They realize the car wrap they showed isn't made of gold right?
Pierre-Emerick Aubameyang
its just a wrap imagine how heavy that car would be
forever0042000 nope
@forever0042000 yes , it's owned by the prince of dubai , I guess
@@shmokealot778 I live in dubai and I know it's owned by the royal family
You know who made the most consistent money during the gold rush? The ones selling the shovels and the maps
And the bars, and the women.
@@imho2278 , yeah, the Trumps.
And the blue jeans.
no, the gold hunter make more
the one selling map and shovel is only like broker
Not maps, those were expensive. But anything that wasn't locally available including food.
Thank you. It is very informative
The collision of two neutron stars brought us gold 👌🤣🤣
When people eat the gold, do they dig it out of their feces after?
Asking for a friend.
Makes my dookie twinkle
they eat about $0.06 worth of gold, would you dig through your shit for 6 cents?
Yes. You should eat gold just so you play with your feces afterwards. It's a very sane and normal behavior.
I've eaten gold just for the hell of trying it and seeing what it tastes like, don't the same for diamonds too lol. I'm not rich, just got curious enough to save and buy enough to eat it afew times. Has no taste really. Yes we just shit it out and don't look back lol
🤣😂🤤
I Love Gold because:
* It looks Great.
* Its Rare.
* It's Practically Impossible to Corrode or Rust.
* It's Gold.
th-cam.com/video/mBWJJpg86Sg/w-d-xo.html
*And the Government can't print it!
and it’s hypoallergenic
@@stephenriley971 the government has been printing gold coins for year's. I think you ment that the government can't make gold I mean not true 100% real gold. But given time just like diamond's it just may be possible.
Emma Sandstone not to mention completely gluten and GMO free
Fun fact: The first Egyptian king Psusennes commonly known as the silver pharaoh had a silver sarcophagus which was at the time extremely more expensive than gold. Gold was abundant and silver was scarce commanding more price.
The fact that it came from space as a result of a planetary collision makes it x10 cooler than it already was
Business insider: gold is very expensive
Minecraft: hold my milk.
At least we can craft golden apples tho
terraria: bar of gold only makes a few silver coin leleleleleleleleleleleleleleleleelelelelelleleleleeleleleleleleleelleleleleleleleleleelleleleleleleelellelel
@@CRNCHY And I your a genius we could craft powered rails
Dude the cars in “gold” are not even real gold its just a wrap
Ya because gold is too soft
The gold could be scratched off
People would chip some off if it was real😂💀
Gold plated car
I cant be the only one who thought it was real gold
well if you think gold is expensive now,just wait until next year!
The first two seconds of this video the music had me thinking I was loading into the Division.
Business Insider’s way of telling the masses to invest in gold??? 🤔
Precious metals are mostly just a hedge against inflation.
@Dr.Science This is an astonishingly ignorant statement. Gold is pretty much a hedge against your own economy. You're literally betting against your currency/financial system. Gold is not a good investment unless you expect all other financial instruments to be worthless in the near future. Buying gold is just a diversified savings account, unless the world economy collapses.
Read this: From 1972 through 2013, common stocks returned 14.68 percent in falling rate environments while gold futures returned 7.85 percent. In rising rate environments, stocks returned 8.47 percent while gold only returned 4.86 percent. When rates were flat, stocks provided a gain of 10.61 percent and gold returned 8.61 percent.
Paper currency is foolish to hold, but you're clearly not well off you think gold is in itself an investment. Educate yourself. Stop upvoting this shit.
@KKDominate - Rocket League From 1972 through 2013, common stocks returned 14.68 percent in falling rate environments while gold futures returned 7.85 percent. In rising rate environments, stocks returned 8.47 percent while gold only returned 4.86 percent. When rates were flat, stocks provided a gain of 10.61 percent and gold returned 8.61 percent.
1972 is the year our currency became fiat. You gold investors (I doubt you own any substantial assets at all) have no room to talk. It underperforms in every market condition imaginable.
@Dr.Science youre a child professing investment advice on TH-cam. Look at you, you watch video game cartoons.
I've worked in corporate finance for 7 years and I have an MBA, CPA, and CMA. Stay in school
@Dr.Science Proliferation of carbon-based superconductors can reduce demand thus the price of the gold in the same fashion as the proliferation of electric cars in the following decades can reduce demand and thus cost of oil, how these things affect the economic variables like petrodollar is yet to be seen, but stocking gold to provide for future of your children may be less sensible than diversified investment in houses, stocks etc. which value is more likely to grow in the future if chosen well compared to gold...
Uh because gold has been used as “money” for most of human history and it takes a lot of human labor and capital to recover
There is more gold than you think just like diamonds and oil natural gas every few years somehow we find untapped resources but you can’t allow ppl to know or it will lower its cost
Recover what?
And that is why: China , Italy , U.K. , U.S.A. , Russia , France. are keep piling up the Gold. They are preparing for greatest economic crash ever.
What are you doing making a comment? Go on over to Business Insider's offices and demand they give you a job. Clearly, you are very well versed on gold so you should of done the video. Plus, I'm sure they won't mind paying you in gold either. It's a win-win situation. Better videos from an expert such as yourself and more educated people on the internet. We clearly need more of those around here don't we?
@@Fusiongearz Should of?
It makes for a great physical currency because of the fact it’s rare, but not to rare like some other metals, so there is still enough to go around and be used, liquidated. Other metals are too rare and there’s barely enough to go around. And some metals aren’t stable and very reactive. Gold is a stable, very eye appealing, rare metal. And metals are the best choice for currency because they last the longest. Silver is a great currency too because it’s rare, not as rare but rare compared to a lot of materials and most other metals. Has even more industrial uses, is eye appealing, and also is malleable like gold. Silver does tarnish but is easily cleaned
Your research are magnificent
"Beef steak"
The snow is now snowier
I mean there is salmon steak
And steak steak
you can make a steak out of any slab of meat, it might be called something different but it would still be a steak
Before anyone says anything water is not wet so don’t say that shit
And water is wet
"Gold could be rarer in the near future"
Elon Musk: Laugh's in asteroid mining investments
just not gonna happen though, that asteroid psyche 16 is light years away from earth and its possible - not confirmed that its just full of gold, nobody is gonna spend that much fiat to mine it all especially when you bring it back youre gonna crash the gold market and itll be worthless anyway even if you did
@@xy69161 you have a point but I was trying to say that Elon Musk could have plans to mine gold in space in a few decades
@@xy69161 well tbf, gold being worthless because of an excess is relatively a great thing because then it could become a comodity among the middle class
@@xy69161 thats one spesific asteroid... there are litteraly endless ammounts of them in not just the universe, but even our own cosmic backyard.
@@AugmentedGravity The gold retrieved from them would likely be more expensive because of the cost it would take to not only mine them from the asteroid, but also carry them back however many millions of miles back to Earth
and this is why i think the idea of asteroid mining, although science fiction, may be an important key for the future
Thanks for this great information it's really going to go along way in helping me start up my trade with her
‘Gold could become even more expensive’
Not when asteroid mining becomes a thing
oh well. just gotta wait 300 more years
@@soggybiscuitz5985 nah, this is 2020. Everyone will die by 2021. Big chances of asteroid hitting earth.
A smart German scientist explain that we can start asteroid mining now. He explain that an rocket escape gravity by using fuel then use electrical fuel to go to an asteroid and grab it and then throw it to the orbit of earth.
Ummm first of all, asteroid mining is not a thing (it’s most likely a scam. Let’s pretend asteroid mining was a thing... do you have any idea how f*cking expensive it would be to mine gold? The price of gold would be over $100,000.00 per ounce bare minimum.
@@philiperdman5406 Keyword: *When*
"Beautiful design on it; and that, [it] adds a degree of emotion to it." Spoken likea true salesman.
"A diamond is forever"
It's actually up to 1800 an ounce, courteous of the banks in forex and Commodities.
$2,400
He was supposed to say 55 thousand tons not 55 tons left to mine.
Just build a zombie pigman farm you have gold for DAYS!!
Yep true 👍
This reminds me of when they kept telling us that we were going to run out of oil in the 1970s
Here, here or contemporaneously "this".
hear ye, hear ye; I can read.
Thier is gold in every river and ocean in the world it will just be more difficult and more expensive to mine..
We are going to run out of oil eventually. Maybe 50 ish years from now.
They said the same thing about iron... "Arriving earth by a single meteorite" no way!
Gold has always been luxurious ever since The Ancient Egyptians
It's valid everycentury and nowaday it is still popular among the people. Gold has pretty much always been used by humanity to store wealth. It’s rare, it’s stable, it’s shiny and glamorous, it’s malleable, meaning it can be easily made into things like crowns. Sure, metals like osmium and uranium may be much rarer, but they don’t have the glamour of gold, plus they are rare to a point that they have little demand compared to gold.
That's the key word "Stores" wealth, not "Builds" wealth.
that's why it's not an investment, it's a hedge.
All these "investors" getting mad about it "losing value" should just sell it at a loss, there are plenty of buyers willing to take it off their hands.
$1500 gold is expensive...
* Laughing in $1.5 Trillion deficit *
Fun fact : Indian housewives hold 11% of the world's gold. That is more than the reserves of the USA, the IMF, Switzerland, and Germany put together.
Source : internet
@@novael6582 At first glance that seems an interesting fact but at the second look, maybe not so much since India has 1.4 billion people, so wives maybe make up 300-500 million people and the gold they got probably stems from other family members, fathers, mothers, their men who gifted it to them etc.
@Igs We do no more gold standard tho
But we have a reserve tho.
@Igs The US has the largest gold reserve in the world.
@@scinary7052 You mean the federal reserve...thats a private company.
Gold is real money. Everything else is credit
You must be above 50 years old. Millennials don’t care about shiny cute rocks
@@blixx87 you must be above 35yro, zoomers aren't as dumb as millennials and love Gold
Why would gold be considered currency and not any other mineral or material?
The gold standard era is long over.
@@Aschraffff fok off
@Aschraffff curious that central banks all over the globe are currently committed to acquiring more gold than ever
Ok, but can we talk about the intro music which almost sounded like the Stranger Things intro😆
Brilliant ..Thanks 👏🏻🙏
Wait so he just found 17 pounds of gold in his yard.
it just be like that sometimes
@@veryryan9771 lol that’s an answer i would give
@Random eurasians dude
s
A
M
E
Their estimate is a bit off, they calculated the value of that 17 pound nugget purely in weight. Solid gold nuggets especially of that size are rarely smelted down, they are worth waaaaay more as a solid piece. Couple of mil easy, but yes at spot price (todays price per ounce) about $400k
I think so expensive is running out of ideas
5 months later: why money is so expensive.
@@yi-vanstudenov464 XD
I can't wait for them to make a video on why gemstones are expensive
@2:49, that 14 lb was 248 troy oz, which at today's $2k/troy oz is about $1/2 million ($500k) in gold.
Au: best conductor
Ag: Offended
why gold?
because it remains conductive for a longer time
Superconductors are better
aapeli123 Yeah but then it’s not a single element
Q: why gold is so expensive?
A: because the price of it is high 😎
didn't answer the question, why is that price so high huh?
666 BRLN 999 it’s just a joke
@@LegendNinja41 it smoked weed
because the price reflects the inflationary nature of fiat currency and the devaluation of the US dollar and other overly produced fiat currencies around the world. Gold will only go higher and higher as more banks get into more debt and more Governments keep printing fiat currency to keep this money=debt ponzi scheme going. Meanwhile gold stays gold.
Stolen comment
Gold: Who are you?
Nordic gold: I'm you *but Swedish*
I spend a lot of time in the California gold country and I know things haven't changed since the 1800's - if it costs more to extract and process the ore than the value of gold itself you don't make a profit. I think of all the 49er's rolling in their graves when they prospected for $20-35 ounce. Even adjusted for inflation today's gold prices are insane.
The expert looks exactly like what i'd expect a gold expert to look like.
people in the Chinese empire: *Suicide from swallowing gold bars
People in the modern era: *eats gold for fun
Oh how we've evolved
\*rummage through rich person's feces\*
I'm rich!
@@postblitz oh god lol
Edible gold has been a thing since the ancient Egyptians. It's not something modern.
Please where can I buy a gold
You can get it from anderson jewelries
really you know him. I thought am the only one that got gold from anderson jewelries
I got gold at a cheaper rate from Anderson gold jewelries.
If every body is like Anderson gold jewelries they could have trust most people in jewelries wear. Anderson jewelries is trust worthy
I got one kilogram worst over $57,939,13 last week
In December 1997, The Financial Times ran an article entitled “The Death of Gold.” Since then, the gold price in US dollars has increased 519% from $288 to $1,780. Today, after many political events and crises we have evidence of the continuous and in many ways spectacular growth of the gold price. This confluence of many current events is creating a perfect storm for gold to increase dramatically more than we imagined.
Why Gold is so expensive ?
Me: BECAUSE GOLD IS GOLD!
YUP 😏
Gotcha gustefly funda
Gold became less once they used it
On computers and space missions.
because gold is one of the best things you can own to protect your wealth, everything else that people own can become worthless (stocks, bonds, dollars etc)
Gold is beautiful and rare, and we now know it comes from space. That's amazing. I love gold.
No one: I wonder why gold is so darn expensive
Almost Everyone: *IT’S GOLD*
"But tell me: how did gold get to be the highest value? Because it is uncommon and useless and gleaming and gentle in its brilliance; it always gives itself." - Friedrich Nietzsche
It's bling that's the thing.😂
The coinage acts didnt set a price for gold denominated in US Dollars. They defined the US Dollar as a weight of gold, silver, and initially copper.
Short answer , Supply and Demand.
..... It has value because people think it has value... just like money
umm we don't think it has value.. it actually does.. it has a ton of purposes.
It is money :)
false, currency and money is different thing. gold has value because it doesn't go bad, cant print it, rare, looks nice, has many uses. and fiat currency has value because it was backed by gold and then stopped, but people still think its backed by something.
Cr_hazy exactly gold and other precious metals can create technology, federal reserve note is just cotton a linen not backed by anything😑😒.
Pushkar Lakhe Gold has internal value. Money has value because we agree it has value. If we don’t agree then it’s useless. Gold has value based on things we agree on but it also has inherent value which has nothing to do with opinion or agreement
as a Goldsmith i must say Gold is one of the best material to invest your money. you can buy a gold ring and after ten years its value will be ten times more.. and hey you got the chance to show off your gold ring too.. which might get you some personal benefits XD
10x in ten years?
😂😂
From a historical perspective, gold is NOT an investment. Gold does not even beat inflation over a 10 year period and put it simply, there is no increased demand for gold over time nor does the gold produce any cash flow or income. I would say gold is best seen as a hedge against economy disaster. Compare US equities return over gold for average 10 year period time you would realize that gold is a joke. Even bonds outperform gold lmao. I'm not trying to say that you should not buy gold but to the contrary to the media, you SHOULD NOT view gold as an investment but rather a form of diversification/hedge in your portfolio. I really get pissed off of how much media and people think gold is a long term investment
My grand father has brick 5 gold bar at that time he had buyer for 25 rupess now its million worth it
@@steveng7497
Different country different benefit, for country with unstable economy and suffered hyperinflation like venezuela, gold is life saviour
Imagining entire meteors made entirely of gold is crazy
As a Colombian, aka Gold Carvers and the inspiration for the Legend of El Dorado even I wonder why gold gold is so valuable!
👏STOP ADDING GOLD TO FOOD👏
Dont tell me what to do
How else can I shit gold?
Thanks I was about to
Will there be gold Mac and cheese?
As an account executive in an advertising agency attending Anglogold here in Brazil, I had the opportunity to follow and been taught all steps of gold mining during a week at the underground mining pit 900 m profundity and I had the pleasure to hold a 12kg bar of gold in my hands at the end of the process. It was so mind-blowing! It was so soft my ring made a dent on it! I kept thinking what I could do with it and understood finally why it can causes a "fever".
Finally really talking about the 'why' in the last minute
I love gooold! The taste of it, the smell of it. The texture
Oooh, how does it taste like?
It’s amazing how there are lots of ways now one can make money, that ain’t about owning a business
True, sometimes to own a business is stressful as a woman and wife, it gets no easier
start small, you might not have a lot of funds for business, but you can just invest in crypto/forex
@@avarodriguez4966 Seems you’re good with crypto? You trade by yourself or a broker?
I really need to be financially stable this 2021, last year wasn’t an easy year at all financially and emotionally
I lost someone special. 😔
No relent this year! We all gotta make it 💪
the perfect metal unless you are an alchemist
Let’s go hunt for some more of them gold meteorites!
Thank you for the good video
As an Indian nothing can get me away from gold jewelry!!! I
gold is money, its a central commodity everything else is priced around gold. even fiat money.
you cant pay taxes with gold and gold cost money to keep you need a safe you need guards you need to transport it and for what purpose it doesn't yield any annual wealth, its easily the most overrated investment ever.
How is fiat money priced around gold?
also prices arnt priced around gold, prices are more priced around oil. When the oil price go's up farmers, miners and transport company's pass the higher oil price onto the consumer , the same dynamic does not happen with gold.
trent jenkins it’s the cost of living that is consistently priced in gold when comparing historic economic periods. We adjust for inflation based on how much gold paper notes can buy today versus yesterday. Oil is far too volatile to use for reserves. When interest rates are not set by the federal reserve, and instead a market rate is determined, then people use banks to store their wealth who pay those savers a rate of interest for the ability to loan out those funds, all of which used to be backed by gold (until 1971, officially, and for effectively 5000 years prior). CPI and PMI may be correlated to current oil prices, but correlation is not causation. Let alone extraction rates are extremely volatile day to day, which is why banks dont stock their vaults with oil barrels.
@@trent3727
Lol, keep loving your paper money then
Even if gold was a common element we would still like it enough to consider it precious, it just looks really good
Still waiting for someone somewhere out there came up with synthetic metal that is as useful as gold
It’s really rare and you can do special stuff with it because it’s also really workable and doesn’t oxidize. This makes it last forever in a vault in an unchanged state (good for a currency). Unlike precious gems - which are also rare, unique and expensive - it can be divided into smaller units of exchange without lowering its value (and recast into large bars for convenience).
No, it’s not because of the color (see the current platinum and palladium prices).
"And that brings a degree of emotion to the investment". Two words that should never be combined.
Emotion is what makes us human kid. One day you'll grow up and no longer be scared of feelings.
Thank you Business Insider. I now understand Dagobert Duck.
Actually currently gold is cheap! Remember my words!