All the Hacks with Chris Hutchins
The Gold Market: Strategies for Investing and Reselling with Trey Benedict
Dec 18, 2024
Trey Benedict, CEO and Co-Founder of Pure Technologies, shares his expertise in the gold market, drawing on his experience from Heritage Auctions and rare coin dealings. Listeners uncover the history and dynamics of gold valuation, exploring investment opportunities and the differences between bullion and collectible markets. Trey offers essential tips to avoid scams and navigate the complexities of buying and reselling gold, including insights into contemporary sales strategies involving retailers like Costco. A treasure trove of knowledge for potential investors!
52:55
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Quick takeaways
- Understanding the historical context of gold ownership in the U.S. highlights its significance and the opportunities for retail investors since the 1970s.
- Factors influencing gold's value, like spot pricing and market demand, are crucial for investors to navigate the complexities of the gold market.
Deep dives
Understanding the Scope of the Gold Market
The gold market is extensive, encompassing various segments, including central banks, hedge funds, and retail investors. Central banks trade gold to hedge their currencies, while hedge funds and market makers often operate within billion-dollar ranges. Retail investment in gold bars has also significantly grown, now valued at around $55 billion. The legalization of gold ownership in the U.S. in the 1970s marked a pivotal shift, leading to expanded opportunities for retail investors.
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