#112 - What Is The Price of Gold

Posted on Thursday, March 10th, 2022 at 9:35 am by LaLonde Jewelers

All the time I get asked “what is gold going to do”?

I always answer, “only god knows” If I knew that I wouldn’t be living here, I would be on a private tropical island.

You see people see that I work with gold day in and day out so they think that I must know. For most people gold doesn’t affect their daily life. A teacher for instance, gold doesn’t affect their pay or what they teach. A mechanic doesn’t buy parts made of gold. Me, everything I deal with has gold involved with it. So, I keep a close watch on gold prices. Do I know what gold is going to do? NO!!

I have analyzed almost everything having to do with gold: Christmas is coming and all the gold that is needed, does the price go up? NO!

Two Gulf Wars does the price go up? Slightly for a day or two then right back down. Terror attacks, the same thing. Recently Russia attacked Ukraine and that day gold shot up 100 dollars. I thought” here we go, this is the big one”. Two days later, that’s right, back to normal.

Every once in awhile a wealthy country decides to purchase or sell off huge amounts of gold and it effects the market for a short term but it goes back to normal. Gold is like a riverbed that floods or dries, but eventually goes back to normal.

Most articles that you can read preaching how high gold is going to go is usually written by someone who lives an average life, not the real rich guy who knew what gold was going to do.

I don’t go to lunch with the President of Chase Manhattan Bank or talk to the Oil Sheiks on the phone, but I don’t think they know what gold is going to do.

One thing I do know is, that God only lets us live on this good earth for an average of 75 years and he does this, so you don’t have enough time to “know what gold is going to do.”

The reason is because: Only He “knows what gold is going to do” and I don’t think he is telling anyone.

Written by Dan LaLonde, G.G., G.I.A.
Lalonde Jewelers & Gemologists
The Gem Expert