Thinking about stone and gold
“Why keep gold, it's just a rock!” - my father used to say that when he saw someone hoarding gold.
With that point of view, he doesn't care about the price of gold going up and down, going up and down, going over the top. And he still sees his life as normal! As for giving gold for weddings, he says: "Giving money is the best, the kids can buy whatever they want"...
It is true that "my husband" said gold is a stone, it is a mineral, an expensive "stone". But his deeper meaning is that many people buy gold to store - it is just like a stone, because it cannot be circulated or exchanged.
In addition, modern life has brought the global and domestic financial transaction system to operate through transfer buttons, causing gold to be "left behind".
Throughout its long history, gold has always been considered one of the world's most valuable assets and plays an undeniable role in the global financial system. Although it was once identified as a currency in exchange and trade, it has "self-destructed" that role in modern society. Because gold cannot (or rather, it is difficult) to divide into smaller units to serve basic transactions in daily life, especially when daily life is associated with transactions of "a bunch of vegetables, a fish, a grain of rice, a potato". It is rare to see anyone holding gold to buy those things.
The story of "my husband" is more plausible when the press reports that in many localities, despite the strong fluctuations in gold prices, gold and silver shops are deserted and transactions are sluggish. Even a bustling locality like Quang Ninh is in the same situation.
It is strange that in the days after the US presidential election, when Mr. Trump won (from November 6, 2024), the price of gold fell, like "plunging without brakes". Yet many people still held gold and sold it.
Meanwhile, many experts predict that gold prices are likely to continue to decrease in the coming time.
Some stores explained that: When the price of gold showed signs of increasing, people brought gold to sell. Now that the price of gold is at a record high, many people want to wait for the price to increase a bit more before selling, so there are very few customers coming to the store. However, there is an opposite opinion: "Why buy expensive gold?!". Therefore, many stores only recorded a few people coming to buy gold rings as wedding gifts, not to buy for storage.
The above story does not mention gold traders. Because they “hold” gold when they see a suitable price, to sell when the price increases. So, when gold increases too much, of course they do not “hold” it for fear of loss. Because as mentioned, gold is a precious mineral, but it is being “downgraded” in terms of its role as currency in transactions in the 4.0 era, when money transfers are king.
Back to the story of "my husband" giving money as a wedding gift, it is also true, because now many young people publicly disclose their accounts to receive money through transfers. If we "live" according to his concept, we will not be overwhelmed by the current gold price! Of course, gold is still a very precious "stone"!
