Loading ...2024 THE YEAR CANADIAN GOLD WENT NUCKIN FUTZ
REPOST WITH A BONUS
Gloom and Doom in the Gold market ? HA
Still 2 weeks left ….will we see a $4000 an ounce Close ?
Almost there
10 bagger in a QUARTER CENTURY ( $400 >>>$4000 )
2024 (up 40%) CANADIAN GOLD’S BEST YEAR EVER …AND IT AIN’T EVEN CLOSE
…………..
WEALTH PRESERVATION ? HA !
In 2000 the Average price of a Home in Canada was $170 K
In 2024 The average prIce of a Home in canada is $720 K
This is a 4.5 fold increase
https://themeasureofaplan.com/canadian-housing-affordability/
In 2000 the price of an ounce of Gold was ~$400
In 2020 the price of an ounce of Gold is ~$4000
this is a 10 fold increase
Ipso facto
In 2020 an Average House in Canada Cost ~ 425 Ounces of Gold
In 2024 an Average House in Canada Costs ~ 180 Ounces of Gold
So IF you bought 180 ounces of Gold in ~ Year 2000 you made a GREAT Investment …
You can buy 2 Average Houses in Canada Today with your 180 ounces you bought in 2000 and still have 65 ounces left over (= $260 K) to buy a Lamborghini !
BRILLIANT
Too bad for the CDNX. did not want to join the ATH Party
? Am I Still Early
Winedoc
As always, its not the rise of gold but the demise of the loonie (or bucky)
and if instead you BOUGHT the house in 2000 at 170k,
yes you are only up 4.5x with value at 720k
but you had a roof over your head for 24 years,
that if you had rented instead would have run you
1% x 12 months x 24yrs at an average value of 450k, so $1.250m
so your return was 1.25m imputed income on top of still having the appreciated home.
Nearly 2m gross (imputed income, plus asset position)
Touche
But what if you already had a house and you bought the 180 Oz of gold with savings…
Different story right ? Thats my story…except instead of a lamborghini I paid that much to a Divorce Lawyer …so not as smart as I think 🙂
I am just using House Prices as a reference to show Holding gold this centrury was far more than an inflation hedge ..It has been a great investment
10 bagger !