By Bob Fuest
- (electric music)
- but is gold a hot buy right now?
- So I’m not necessarily a big fan of gold.
I never have been.
I think that it’s going to be either individual person,
or individual family’s interest.
We don’t own gold portfolios.
If we’re gonna go looking for commodities,
it’s going to be way upstream.
The components that go into chip manufacturing,
which that’s a real value, right?
Because it’s actually doing something.
I think gold, and I have a similar outlook on gold
because I do oil, right?
There’s not so much demand.
For me, it doesn’t hold weight as a valuable commodity,
even though it has gone up for quite some time now, right?
But if you notice the demand for gold,
so people buying gold in jewelry stores,
and people buying gold coins and things like that.
Typically, when you see the commercials,
what I’ve found in my 20 plus years on Wall Street
is when you start seeing the gold commercials
come out on TV in mass, gold is typically peaking.
That’s what I’ve found.
- Now, some people, a friend of mine, his father,
he hoarded gold for years and it worked out for him, right?
But it’s not back, it’s like oil.
We have enough oil for thousands of years.
So no longer is the supply demand.
It’s really just a manipulation of the prices, right?
By putting rigs on,
and then turning rigs off when there’s too much, right?
10 years ago we could have had
the conversation around oil, hey,
we have a limited supply.
but right now the U.S. is the largest by far,
has the most oil underground than any other nation.
Whereas, 10 years ago, we didn’t know this, right?
But new technologies come on board.
So we’re now a net producer of oil.
And on top of that,
we have all of these other natural resources
that are disposable called alternative energies.
It’s really making the price of oil
just sort of a fake market.
So I’m stating this ’cause it’s a little bit easier,
and palatable for me to get my point across.
I feel the same way about gold, right?
We don’t use gold the same way we use palladium,
or other natural resources to conduct,
and transmit micro bytes of data
over microchips, right?
And so if you look at titanium,
and all of those other high-end conduit metals,
those have value.
So if you’re looking at that,. I would say, hey, investors,
why don’t you look a little bit deeper into metals
that we’re actually using in today’s modern society,
and what we will be using in this modern society
in terms of robotics, right?
I’m a very big fan.
I believe robotics there’s gonna be a huge introduction,
and gold just doesn’t play a role
in the development of what will be our future.
So you’re 29 in 20 years, robotics and modernized homes,
and all of this stuff is gonna be right in your face, right?
And driverless cars will definitely be here in 20 years.
Gold just doesn’t play a role.
I see it as antiquate, if you will.
I think it will be more like high-end watches, right?
High-end watches, there’s a market for high-end watches,
but it’s a very small cliquey market, right?
So I don’t think it’s for every investor to answer you,
but if someone’s looking at that because they’re scared
of what’s going on in the capital markets,
there’s a million other ways
to sort of diversify your household assets
that I think other than gold.