28
submitted 11 months ago by grte@lemmy.ca to c/canada@lemmy.ca
you are viewing a single comment's thread
view the rest of the comments
[-] autotldr@lemmings.world -2 points 11 months ago

This is the best summary I could come up with:


Canadians can now buy gold bars at Costco, but one financial expert warns it might be an investment with limited return — unless you're planning to flee the country.

He explained that "gold is awesome for people who have really unstable currencies," and can represent an attractive, stable investment in volatile economies.

CBS reported last week that Richard Galanti, chief financial officer at Costco, said the bars were selling out within hours every time inventory was added to the company's website.

Now, the biggest group of people who have those fears are those who were adults during the late '70s and early '80s, and they remember very specifically what happened when interest rates started hitting 18, 20 per cent for mortgages.

Go back to the yield … if you happen to have disposable income [and put it] into a savings account, you can get a decent return in interest.

Its advantage, strictly speaking, is that it is not correlated very much with stocks, bonds, real estate and other things people owe.


The original article contains 970 words, the summary contains 166 words. Saved 83%. I'm a bot and I'm open source!

[-] wildbus8979@sh.itjust.works 7 points 11 months ago

Bad bot, you're seeing double!

[-] jadero@lemmy.ca 4 points 11 months ago

Oops. Not ran twice.

[-] TemporaryBoyfriend@lemmy.ca 2 points 11 months ago

Its advantage, strictly speaking, is that it is not correlated very much with stocks, bonds, real estate and other things people owe.

Not that the bot made a mistake, but this is wrong...

Gold drops like a rock when markets take a shit. It usually bounces back quickly -- often before stocks recover, giving you a chance to buy cheap on the dip, and sell at a profit three months later, and pick up some of the stocks that haven't recovered yet... But it VERY MUCH moves in sync with the market during times of crisis.

this post was submitted on 05 Oct 2023
28 points (88.9% liked)

Canada

7106 readers
169 users here now

What's going on Canada?



Communities


🍁 Meta


🗺️ Provinces / Territories


🏙️ Cities / Regions


🏒 SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


💻 Universities


💵 Finance / Shopping


🗣️ Politics


🍁 Social & Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 3 years ago
MODERATORS