Thinking About Buying Gold? Watch This To Not Fall Into The "Trap"
Published: 2024-05-07
Status:
Available
|
Analyzed
Published: 2024-05-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Gold prices reached record highs in 2024.
"gold prices hit new record highs in 2024"
Pending
Gold prices increased by approximately 15% in the 12 months prior to the transcript date.
"in just the last 12 months gold prices have shot up by around 15%"
Pending
Gold prices increased by approximately 80% over the last 5 years prior to the transcript date.
"Over The Last 5 Years gold prices are up around 80%"
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Median household income in the US grew from approximately $8,700 in 1970 to $74,000 in 2023.
"Back in the year 1970 the median household income in America was around $8,700 fast forward to 2023 the median household income in America grew to $74,000"
Pending
Median home sale price in the US increased from approximately $23,000 in 1970 to $412,000 in 2023.
"in 1970 the median home sold for $23,000 but in 2023 the median home sold for $412,000"
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The Dow Jones index moved from approximately 5,000 points in 1970 to 35,000 points in 2023.
"The Dow Jones in 1970 was hovering around the 5,000 point mark and by 2023 the Dow Jones was hovering around the 35,000 point mark"
Pending
The price of an ounce of gold increased from approximately $40 in 1970 to a range of $1,940 in 2023.
"an ounce of physical gold in 1970 was selling for around $40 and by 2023 it was selling in the range of $1,940"
Pending
Median home prices in the US saw a growth of approximately 1700% over the past 50+ years.
"the median home price has grown by around 1700%"
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The Dow Jones index grew by approximately 600% over the past 50+ years.
"the Dow Jones has grown by around 600%"
Pending
The price of gold increased by approximately 4,800% over the past 50+ years.
"the price of gold has grown by around 4,800"
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Gold prices rose sharply in the early 1970s and 1980s, followed by a significant crash that bottomed out around 2001.
"gold prices began to Skyrocket in the early 1970s into the 1980s and then we saw this massive gold price crash where gold prices were crashing until they finally bottomed out around 2001"
Pending
The speaker predicts that gold will retain more buying power than cash over a 10-year period due to inflation.
"if I buried both of these things I buried the cash and I bury the gold in my backyard 10 years from now I believe that that gold is going to have more buying power than the $10,000 worth of cash because of what's happening with inflation"
Pending
The US dollar's removal from the gold standard in 1971 gave the government and Federal Reserve unlimited spending and money-printing capabilities, leading to potential inflation.
"the United States dollar was taken off of the gold standard because in 1971 president Richard Nixon took the United States dollar off of the gold standard which meant the United States government had essentially infinite spending ability and the Federal Reserve Bank had the ability to essentially print infinite amounts of money"
Pending
Gold is considered a better store of wealth than fiat currency because the supply of gold is finite, unlike printed money.
"gold generally is a better store of wealth than paper because now you can print more dollars but you can't print more physical gold"
Pending
Gold prices are not guaranteed to increase and can be subject to downward factors.
"gold prices don't always go up there are factors that can make gold prices go down as well"
Pending
Increased inflation over the long term is expected to make gold more expensive relative to the US dollar.
"over the long term if there's more inflation then that would generally make the price of gold more expensive relative to the United States dollar"
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Gold is viewed as a form of insurance against catastrophic economic or global events.
"it is a type of Doomsday insurance"
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Gold has a long history as a currency and is universally recognized for its value.
"gold has been a type of currency since before you and I were alive gold has been used in transactions for centuries now and people know how to value gold"
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The speaker expresses a strong belief in the continued dominance and strength of the US economy.
"I personally am a believer in the American economy I believe the American economy is the strongest economy in the world I believe that the American economy is going to continue to be the strongest economy in the world"
Pending
Spotify is expected to announce further price increases for its services.
"when Spotify comes out and they announce that they're going to raise prices for their services for the millionth time"
Pending