Gold rally driven by central banks and high-net worth buyers, says Gabelli's Chris Mancini

Chris Mancini, Gabelli Gold Fund associate portfolio manager, joins 'Power Lunch' to discuss what's driving the price of gold higher, who is buying gold, and what the demand for gold says about investors.

[@shellywhite2145]

What are the best additions to a $500k portfolio to boost performance? ETH is Up and will do better, I believe as indicators for profits continue to improve. investors like me believe that “Santa has come early” to the markets.

[@laurawheeler-zh8gv]

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[@shellywhite2145]

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[@laurawheeler-zh8gv]

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[@shellywhite2145]

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[@Dr.Weed8]

Invest in spinning rims if you haven’t already yet. Go all in on this one.

[@kwphone9735]

Gold is not at all time high. It is the dollar that is all time low vs gold. US actions have consequences and this is driving the people and institutions to safe haven of gold. A few solutions for US would be to dramatically cut spending, increase taxes, support constructive dialogue in ukraine, palestine and far east. Respect others concerns of US overeach, military expansion, sanctions etc. I cant see any of the above happening so the continuing rise of gold is inevitable.

[@southrichmondtofl]

Bars are flying off the shelves at COSTCO, I've bought my share for sure.

[@LyleWins251]

I own BTC and physical gold and silver but right now I'm favoring the mining stocks. GDXJ was at $166 a share in 2011 now it's trading at $43 a share even though gold is smashing records. GDXJ is up over 20% in the last month. Right now I think people have a better chance of doubling or tripling their money with the mining stocks than BTC.

[@GaminHasard]

Good point. In the 70s the mining sticks did really really well. And they give dividends noh?

[@mniay]

He missed the biggest reason: US government fiscal deficits are out of control and we are no longer in a near zero-rate environment. Add on all the global reasons and we're soon reaching an inflection point where the only way to keep the system going is to devalue the currency. Only hard assets can help weather the storm, and that includes gold (or bitcoin for those that believe in the digital gold perspective).

[@BullsEye3333]

I see they don't want to talk about the real reason gold is up. Which is, we've never been closer to WWIII.

[@sigmaboy332]

You mean billionaires.and banks buying it cuz they know something comin ?

[@kc33original81]

I hope not. If we really get in WWIII gold and everything else will be worth nothing because the nucleair weapons they will use in WWIII will mean the end of mankind.

[@RealityTrailers]

In your reality❤

[@dlyras]

There will never be WWIII. We have essentially checkmated each other with the invention of nuclear weapons. If there was a WWIII, it would literally last less than a few hours and everyone would be wiped out in a matter of days. So there is a new game in town. Which is "He who owns the most gold makes the rules" which is what we are currently seeing playing out.

[@craiggarrett34]

Actually, at 1:20, they start talking about exactly that, just not in blunt terms. He says that China is buying gold because it can't be confiscated by the US Gov't, like how the US confiscated a ton of bank assets from Russia when they invaded Ukraine. That implies China is preparing for an invasion of Taiwan, and want to deny the US's ability to confiscate bank reserves, treasuries, etc.

[@Patinadoras]

yes in gold bars or lingots its always better than etf in gold i think

[@TheBooban]

Bangles. Good bangles as jewelry so you can get through the airport.

[@ibrahimtouman2279]

China doesn’t want to dump its dollars reserves all at once, otherwise there will be a huge surge in the price of gold.. they will do it slowly to keep the price of gold under control

[@bigislandvip5540]

Love the way CNBC can't grasp why people want Physical Gold.!

[@aboucard93]

They can't grasp it. Do you see the way that guy is grabbing his mouth. He's looks scared

[@HALK-j1i]

People that keep their assets in fiat currency, we have a name for them, we call them poor. Gold is the real money. You never lose with gold.

[@valeriebrousseau1053]

❤ should i sell my gold now or wait to make even more money ?

[@HALK-j1i]

@@valeriebrousseau1053 hold

[@timfarrell1579]

Buy physical silver so cheap right now. Silver has been suppressed for 175 years way more than gold.

[@pleiadesstarr453]

Silver is still quite affordable for most. But once gold are becoming too expensive it'll be out of reach for most people then they'll turn to silver as an alternative.

[@rumcoke9123]

Platinum is much rarer and a better buy than silver.

[@a13xdunlop]

@@rumcoke9123rarer but fewer uses.

[@pleiadesstarr453]

@@rumcoke9123 Platinum is still way more expensive than silver, not everybody can afford it.

[@larryhorowitz6690]

Dan Tapiero tweeted on X that he feels the rally in gold is due to the ballooning of US and global debts and deficits. Why is that reaction occurring now? I think the recent warnings from icons like Ray Dalio, and also Powell and the CBO about the unsustainable nature of the deficits explains how that has caught the attention of large investors at this moment. That, rather than geopolitics, can potentially give a sustained rally.

[@chrissharkey9644]

If you don’t hold it you don’t own it!

[@reinhard7572]

Genie is out of the bottle!!

[@HALK-j1i]

Gold will go to $8000

[@lenhua1947]

$20000

[@grandmiserthe3rd434]

Gold is money . Everything else is credit . ...............( J.P. Morgan 1912 ) .....!!!

[@jan2000nl]

Is it? What about seashells? Or bottle caps?

[@Dr.Weed8]

Alan Greenspan also said “by all evidence, gold is money, it behaves like money”. He then goes on to talk about how economic growth gets constrained by mining output. Greenspan is the architect of the modern economy.

[@BrisLS1]

Oh, Peter Schiff is going to LOVE this air time. Ha ha. I am just glad I bought my 220/225 call spreads on GLD for $1.70. Could be a double bagger real soon.

[@DavidThomas658]

in the end you can't beat the old old fashion way of doing things and storing physical gold, unlike money it's inflation proof and they can't seize it from you.

[@davebellamy4867]

Unfortunately, they can seize anything from the masses, physically or electronically.

[@jan2000nl]

Why bother investing in a business that is providing goods or services people need, when instead, you can hold onto a solid chunk of shiny metal that does absolutely nothing?

[@ahmedalsharman]

Gold will end the Year at $3200

[@gbxmusicchannel3836]

If we break 3k i think we will move fast to 3,5 or higher.

[@adamkeeney398]

No comments on government spending? How odd...

[@MarkMphonoman]

Gold is King.

[@Alex-pr6zv]

It's a good time to consider silver actually. The potential percentage upside is huge.

[@peter_eva]

There is a monetary reset on the horizon. Gold available for retail purchase at $2400USD or $3400CAD may as well be called unobtainium. Also there is only enough supply for less than 2% of those wanting or being able to afford it. If fomo sets in for physical gold, the price will rocket crypto style.

[@Gold_Silver.]

#Gold & #Silver to the 🌕 baby we out 🚀. Getchu something thats 100% private and a store of wealth at the same time.

[@RichardKing-sx6xc]

US DOLLARS 😆😅🤣😂

[@brycesattler2301]

US GOLD CERTIFICATE

[@thegreatpumpkinsloftiestcr315]

Buy physical gold and silver and get it delivered

[@MarkMphonoman]

Gold mining stock is not Gold. Metal is metal. Business is business. I say stick with the metal.

[@Peacefulfairypeace]

Banks are choosing sides already something serious is happening.

[@JamesJohnson-sl3ui]

It's funny to see thier confusion on why people are buying gold.

[@MattyFromAustralia]

Physical assets is all that matters people. Gold has been money as long as history details. Fiat is dead and smart people will buy gold and silver fast because when it crashes it will crash hard and fast

[@aboucard93]

Buy physical gold and a Dirty Man Vault.

[@Jackson-l3r]

It seems that baseball players and statistics printed on flimsy cardboard hold more value than gold (rock). Anyone up for a game of rock, paper, scissors? Honus Wagner (T206) Valued at $7.2M USD Better to hold a cardboard print of Honus instead. Much lighter. 😏

[@johnchieze530]

that red china has a history of bad investments should be considered -sell!

[@tylerfite8660]

BUY BITCOIN!!!

[@HALK-j1i]

Buy Gold and Bitcoin and protect your wealth.

[@ahmedalsharman]

Bitcoin will crash to zero in the long Run.

[@ahmedalsharman]

Cordano & Solana are future , Bitcoin will most likely to crash to zero.

[@georgeyao436]

Money has no value

[@69pepe420]

buy bitcoin instead

[@ahmedalsharman]

Bitcoin will crash to zero in the long Run , Cordano & Solana are the future

[@John-wf5if]

Gold too hot. Time to short. Huge rug pull in spot gold coming soon.

[@gbxmusicchannel3836]

Have fun shorting something you dont understand. When FED pivot you get liquidated.

[@John-wf5if]

@@gbxmusicchannel3836 Gold can't maintain this rally. Surely a correction is coming. And if the economy crashes, gold will too. Seems like a high probability win.

[@gbxmusicchannel3836]

@@John-wf5if no gold will not crash if the economy does cuz rates will be slashed. Dont get burned shorting safe haven metals just look at the 70s. Dowside for shorts is unlimited.

[@John-wf5if]

@@gbxmusicchannel3836 Huge sell off yesterday. Looks weak now.

[@jackcahill529]

Everything this man is spewing from his mouth proves why bitcoin is superior to gold.

[@pleiadesstarr453]

Is good to own both.

[@KingBlaisy]

@@pleiadesstarr453agreed now that Bitcoins market cap is 10% of gold I sold half my Bitcoin for gold two months ago. Bitcoin can be a better investment than gold but gold is the better store of value for wealth preservation.

[@brycesattler2301]

☯️🪔🪔🪔 *Amitofu*