Bad News For Gold? Consumer Confidence Is Rising

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[@nates4310]

I don’t ask the sheep what the weather will be. They usually say it will be blah

[@SovereignSaurus]

I like that!

[@JadeSchafer]

I think things are getting worse. Not only from my own experience but also what I hear from people around me. Things are more expensive. As well as people being a lot more concerned about being able to pay their bills and potentially losing their jobs. So at least currently I'm seeing and hearing worsening not improving.

[@SovereignSaurus]

You do wonder.... When you look around at what some people are prioritising their spending on and think can it be that bad?

[@GoldGn111]

What you here on the internet for sure but can’t say the same out side of that

[@JadeSchafer]

@@SovereignSaurus Sometimes for sure. Cause I have definitely seen that and wondered. Other times I know people who are prioritizing the necessities.

[@JadeSchafer]

@@GoldGn111 In relation to what?

[@johnlee4897]

Consumer confidence (especially USA) correlates highly with stock market performance which has been puffed up with $2 trillion annual budget deficits accumulating to $34.1 trillion of federal debt. The market tanks and watch how quickly C.C. drops.

[@SovereignSaurus]

Yeah it's a reason I like to keep an eye on it👍🏼

[@shrimpman8422]

great commentary and subject matter with a lovely gold back drop. I am all about the spot price, when/if £1650 comes i will reconsider my position. Surely there must be times when you are cashing out on highs to buy back in later. Also great point regards interest rate hikes and impact on spot price. keep up the great work

[@SovereignSaurus]

Yeah I've still some sovs in the stack which came in below £300 and when people were buying them readily around £400 I think I could have sold them and bought back more recently at 370 odd one day though they just likely wont come back, I mean when I bought my first in the £230s they were apparently expensive but will we ever see that price again?

[@shrimpman8422]

@@SovereignSaurus thanks as always for your replies, I really appreciate them. Look forward to your next video

[@jimiellis6060]

Great content as usual, and nice to see your coins. All this data really doesn't mean a lot if you're in for the long haul, there will be good times and bad, but the average rise still remains. On a macro level, with the BRICS nations buying as much as they can get their hands on, then i think we're on a safe bet. May i change the subject and pick your brains, i recently seen a 1996 sovereign, where there was a polite dissagreement in mintage. I research the mintage figures and was told they are irrelevent because the true figure depends on how many the Royal mint sold. Confused! :)

[@SovereignSaurus]

So some coins do get a mintage limit but then if they don't fulfill that number it could be lower in theory. I believe the 1996 proof sov has a 9110 limit what did you come up with or get told?

[@jimiellis6060]

@@SovereignSaurus Firstly, it was a 1990 sorry. So here's the correspondance snippit "In regards to mintage numbers 8,425 is the maximum amount of coins that would be minted this would be declared when issued, however take up was low and only 4,767 were actually sold by the Royal Mint" ,,,, So, is that correct, and if so what resource can i refer to? Thanks for your time by the way :)

[@mysterybuyer3738]

I dont see why gold should be combined with consumer confidence. You can be a confident consumer but also be putting gold away because you know later there will be depression.

[@SovereignSaurus]

You're right, some people may be optimistic but still accumulating gold, I'm always curious and quite fascinated by correlations in markets and data

[@1977JohnBoy]

i see surveys like player raters after a match, you give all the manu players a 1 and anyone they played a 10 so becomes a bit pointless, plus im nearly 47 and never done a survey so i do wonder where they get their figures

[@SovereignSaurus]

Yeah there's definitely some issues to address for selecting the participants

[@jonnyincognito899]

Bad news for gold is short-term thinking 😎

[@SovereignSaurus]

Yeah for the long term stackers near term price dips make it easier to put on weight too

[@philippayne4951]

Well gold today, is 2000, 45. Dollars an oz. I don't see that being bad news. Although fluctuates daily, the long term is good. You have to remember that money today is fiat currency, because governments continue to print money. Inflation has been a big problem, and unless it's controlled and stopped, and nobody has done so, gold will continue to climb. Your not making money on gold, just keeping your assets.

[@SovereignSaurus]

Yeah long term I don't doubt we'll see some ups and downs but I expect a general trend up (ie more fiat per oz) @@philippayne4951

[@modernsaver-km5ex]

Yeah it would be interesting to know who actually fills these surveys in

[@SovereignSaurus]

They provide some insight into the demographics which seem pretty fair though it is of course going to be a limitation of the data

[@LMUstacker]

I'm actually waiting to buy my first gold and the Ukraine/Gaza wars kept making me think it was probably better to wait for the news to calm down; so it's good for me when you say that people are getting more optimistic, and it goes along with the more calm CNN front pages I see; like said down here, yeah, it's not like we have to worry about the momentary highs and lows, we think in terms of 20-50 years, and gold will just go up and keep our savings safe. Want to know about the next 50 years? A lot of fuss about Ukraine and Gaza will still make the news, together with fears of WW3, which sells papers and articles, but eventually things will settle down because nobody wants them to get worse; meanwhile, AI will get more powerful, but things will get bad before they get better (mostly due to Russia, China and various rogue agents), so we'll face some disasters due to AI, but once we learn from that, we'll probably be far more careful and we will start the real new renaissance thanks to AI. That's when gold might really go down, if people really think humanity is all fixed. But if that really happens, we won't even have to worry about gold's price or about savings, we'll live in a star trek reality.

[@SovereignSaurus]

Certainly a lot of unknowns in the future

[@dleetr]

Just wrote a mega post whilst the net was temporarily down and when it came back up again it didn't post. Normally I ctrl+c my posts in case this happens, but didn't this time. Never mind, probably saved you some reading anyway.qqqqq

[@SovereignSaurus]

Ahh yeah I've had that happen. Thanks for taking the time 👍🏼

[@catfart879]

I don't know if I'd call it confidence or stupidity. People doing mortgages with 7to9%, ten year car loans, lol. I smell another crash.

[@SovereignSaurus]

Yeah one car dealership in the UK before Xmas I saw advertising 9.9% APR, I forget the exact phrase but something like 'competitive' finance rates

[@stephenparker5241]

Im pretty optimistic that things are worse😂

[@SovereignSaurus]

🤣

[@christophermccormick8670]

Cheers

[@SovereignSaurus]

Have a good week mate

[@seminumismaticguy8575]

i am never surprised how uneductaed and clueless most people are on finanace and ecconmic issues . They aremt any better at political issues either. for the last 5 months i have been conpleting yougov surveys and seen the ridiculous impossible , ideological responses. Anythung outside their own personal bubble people tend to be clueless: economics/finance , politics should really be compulsary at schools. A r3cent survey suggested only 20% of uk citizens understood even basic financial concepts.

[@SovereignSaurus]

I wonder if the average person on the street could describe even the most basic things like even interest... Can people calculate percentages?

[@MotorcycleMayhem595]

The older I get the more cynical I am of "public opinion"

[@SovereignSaurus]

Haha yeah I know what you mean

[@livinthedream7714]

Excellent shit

[@SovereignSaurus]

🍻