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Time to Buy Gold? Wealth Manager Bob Fuest Has Other Advice—OFF THE CUFF

Bob Fuest

09/10/2020
By Bob Fuest

Where can you safely put your investment dollars in today’s volatile and unpredictable landscape? Some people want to buy gold. Is it the right move? This week we go Off the Cuff with Part 2 of our interview with financial advisor and wealth manager Bob Fuest, where he shares some enlightening advice.

In an environment where we’re seeing businesses that we thought would be around forever falling by the wayside weekly, we all need some solid, reliable guidance to help us steer a financial path forward. Leave it to our resident expert, Bob Fuest to provide that guidance.

This is part 2 of our interview with Bob. In the first part, he provided insight on the signs of the types of businesses that might not make it out of the current crisis. He also discussed the types of investment opportunities that will arise as we emerge from lockdown and get close to a vaccine for COVID-19? Now, Bob gets even more specific as he provides his guidance on what are likely to be the hottest precious metals to invest in over the foreseeable future.

Watch The Full Interview on YouTube

Should you buy gold bars or other gold assets?
Should You Buy Gold?

Bob Fuest Interview Key Points on Buying Gold

In this interview, Bob addresses the following key issues:

  • His view on gold as an investment in the current climate.
  • How the oil supply and potential in the US has created a fake market.
  • The wisdom of investing in metals that are used in modern society, and which ones to focus on.
  • How to diversify your household assets.

About Bob Fuest

With a background in psychology, economics, and business, Bob is uniquely qualified to provide the personal, empathetic guidance that we all need right now to make sense of the financial world around us. Using his knowledge of buying gold, stocks and other investments, Bob’s passion is to help everyday people to develop the skills they need to achieve their financial goals. 

Bob Fuest, Fuest & Klein Wealth Advisors

Bob is the founder and CEO of Fuest & Klein Wealth Advisors. Since 2009, the company has been focusing on individual and small businesses, providing financial planning services and alternative investment management. According to Bob, the thing that sets the company apart is the high level of trust, transparency, and tenacity that they have. Here’s Bob:

“No matter which hat I’m wearing — advisor, business owner, life partner — I am an unwavering idealist at heart. I have always felt that anything is possible and that most things can be fixed. I believe that, if you put your mind to something, you can accomplish any goal over time, and I truly love helping people achieve those goals.”

Find Bob Fuest online

Watch The Full Interview on YouTube

  • (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.
  • Yeah.
  • 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.
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