Mining News
Hold gold, but hope it doesn't go up - Dominic Frisby
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(Kitco News) - The key argument for gold is insurance, said Dominic Frisby, author of FlyingFrisby.com.
On May 6, 2023, Frisby spoke to Kitco at Deutsche Goldmesse in Frankfurt, Germany.
Frisby gave the rationale for gold.
"I'm a big believer in the maximum of putting five or ten percent of your net worth in gold and then hoping it doesn't go up," said Frisby, noting the metal's longevity as a store of value. "The instinct for gold is the most deep-rooted commercial instinct in the human race. In a nutshell, that is why you should own gold: because there is a permanence to it that no other substance has."
Frisby said gold does best when trust in the system is low, noting heightened culture wars and other conflicts.
"Financial crises seem to get more frequent," said Frisby. "You can just feel trust in the system generally eroding."
Frisby is a fan of Bitcoin and believes investors should hold both.
"There's a real generational divide between gold and Bitcoin," said Frisby. "Bitcoin has proved to be the most fantastic educational tool. It has educated people about fiat money and the nature of money."
Coverage of Deutsche Goldmesse 2023 sponsored by Defiance Silver.
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