WEBVTT 00:00:00.000 --> 00:00:03.819 Welcome to the deep dive. You know, lately, it 00:00:03.819 --> 00:00:06.360 really feels like our paychecks just aren't stretching 00:00:06.360 --> 00:00:10.099 as far, doesn't it? And that feeling of inflation 00:00:10.099 --> 00:00:13.380 kind of nibbling away at your savings, it's definitely 00:00:13.380 --> 00:00:16.300 hard to ignore. Yeah, it really is. So in this 00:00:16.300 --> 00:00:18.579 session, we thought we'd unpack some, well, some 00:00:18.579 --> 00:00:20.899 potential ways to maybe shield your financial 00:00:20.899 --> 00:00:22.899 well -being a bit. That's right. The erosion 00:00:22.899 --> 00:00:26.079 of purchasing power, it's a huge concern for 00:00:26.079 --> 00:00:29.039 so many people right now. So today, we're putting 00:00:29.039 --> 00:00:31.980 gold and silver under the microscope. Our goal 00:00:31.980 --> 00:00:35.500 is basically to explore their historical track 00:00:35.500 --> 00:00:38.320 record and their potential as hedges against 00:00:38.320 --> 00:00:40.380 this inflation we're talking about. And we're 00:00:40.380 --> 00:00:42.179 drawing insights from a really detailed article 00:00:42.179 --> 00:00:44.140 that kind of walks through the ins and outs of 00:00:44.140 --> 00:00:47.259 investing in these metals. OK, so gold and silver. 00:00:47.579 --> 00:00:49.600 When people start thinking about protecting themselves 00:00:49.600 --> 00:00:52.719 from insulation, these two almost always pop 00:00:52.719 --> 00:00:55.700 up first. Why is that? What's really at the core 00:00:55.700 --> 00:00:59.079 of their lasting appeal? Well, fundamentally, 00:00:59.179 --> 00:01:01.200 it really boils down to their history. Their 00:01:01.200 --> 00:01:05.579 history as tangible forms of wealth. Tangible. 00:01:05.760 --> 00:01:09.239 For centuries, long before we had all this paper 00:01:09.239 --> 00:01:12.799 currency, gold and silver were the money. Their 00:01:12.799 --> 00:01:15.760 value comes from their scarcity. I mean, unlike 00:01:15.760 --> 00:01:18.340 government money, which can be printed, the supply 00:01:18.340 --> 00:01:20.480 of gold and silver is just, well, it's limited 00:01:20.480 --> 00:01:23.799 by nature. And that basic fact has made them 00:01:23.799 --> 00:01:26.040 pretty reliable stores of value through all sorts 00:01:26.040 --> 00:01:28.959 of economic shifts and societal changes over 00:01:28.959 --> 00:01:31.810 the years. You often hear that gold... holds 00:01:31.810 --> 00:01:34.049 its value, even when things get really chaotic. 00:01:34.269 --> 00:01:35.829 Is there a good example of that? Oh, absolutely. 00:01:36.269 --> 00:01:39.969 The article we looked at brings up the hyperinflation 00:01:39.969 --> 00:01:43.849 in Zimbabwe back in the late 2000s. I mean, imagine 00:01:43.849 --> 00:01:46.689 your local currency becoming basically worthless 00:01:46.689 --> 00:01:49.560 almost overnight. Right. In that kind of situation, 00:01:49.780 --> 00:01:51.980 someone holding physical gold would have seen 00:01:51.980 --> 00:01:54.040 their wealth preserved. Totally different story 00:01:54.040 --> 00:01:55.719 for people holding Zimbabwean dollars. That's 00:01:55.719 --> 00:01:58.459 been devastating. Oh, completely. Yeah. A tiny 00:01:58.459 --> 00:02:00.920 bit of gold could still buy you essentials when 00:02:00.920 --> 00:02:04.219 the actual currency was useless. That difference 00:02:04.219 --> 00:02:07.280 really, it really highlights gold's role as a 00:02:07.280 --> 00:02:10.020 sort of financial anchor in extreme situations. 00:02:10.599 --> 00:02:13.789 So gold is like this bedrock. When everything 00:02:13.789 --> 00:02:16.289 else feels like it's shaking, it's sort of the 00:02:16.289 --> 00:02:18.789 financial world's emergency break. That's a good 00:02:18.789 --> 00:02:21.930 way to put it. Yeah It acts as what economists 00:02:21.930 --> 00:02:25.449 call a safe haven asset particularly during economic 00:02:25.449 --> 00:02:28.490 downturns. Okay When stock markets are plummeting 00:02:28.490 --> 00:02:31.569 or currencies are losing value, investors tend 00:02:31.569 --> 00:02:34.509 to rush towards the perceived safety of gold 00:02:34.509 --> 00:02:38.150 and that increased demand can help its price 00:02:38.150 --> 00:02:40.949 hold up or even, you know, rise. Yeah. Think 00:02:40.949 --> 00:02:43.370 back to the 2008 financial crisis. You ever remember 00:02:43.370 --> 00:02:45.370 that? Global markets were in free fall, right? 00:02:45.710 --> 00:02:47.930 But gold prices actually surged. It showed its 00:02:47.930 --> 00:02:50.509 ability to weather those storms. And it's not 00:02:50.509 --> 00:02:52.969 just individuals either. Central banks all over 00:02:52.969 --> 00:02:55.789 the world hold massive gold reserves. That's 00:02:55.789 --> 00:02:58.129 true. Why do they do that? Well, it's not just 00:02:58.129 --> 00:03:00.469 tradition. It's strategic. It adds stability 00:03:00.469 --> 00:03:03.009 to their national economies. The sheer amount 00:03:03.009 --> 00:03:06.210 they hold is it's really a testament to gold's 00:03:06.210 --> 00:03:08.569 enduring importance. OK, that makes gold's role 00:03:08.569 --> 00:03:10.949 pretty clear. Now, silver often gets mentioned 00:03:10.949 --> 00:03:13.370 right alongside gold. Does it work the same way 00:03:13.370 --> 00:03:15.990 as an inflation hedge? Silver shares some of 00:03:15.990 --> 00:03:18.789 gold's basic qualities. Yeah. Mainly the limited 00:03:18.789 --> 00:03:21.610 supply and that historical status as, you know, 00:03:21.689 --> 00:03:24.599 a store of value. OK. But it also has some key 00:03:24.599 --> 00:03:28.900 differences. Its role is maybe a bit more nuanced. 00:03:29.120 --> 00:03:31.680 How so? Well, one big advantage is just the price. 00:03:32.120 --> 00:03:35.759 Silver is way more affordable than gold, which 00:03:35.759 --> 00:03:38.219 makes it accessible to more people, you know? 00:03:38.439 --> 00:03:40.919 Investors who might find buying gold requires 00:03:40.919 --> 00:03:43.949 too much capital up front. That makes sense. 00:03:44.150 --> 00:03:45.729 Yeah, for someone starting out or maybe with 00:03:45.729 --> 00:03:48.569 less cash to invest, silver feels like an easier 00:03:48.569 --> 00:03:51.610 entry point. Exactly. And another thing, silver 00:03:51.610 --> 00:03:55.370 has tons of industrial uses. Oh, like what? It's 00:03:55.370 --> 00:03:57.729 crucial in electronics, solar panels, all sorts 00:03:57.729 --> 00:04:00.750 of things. This industrial demand can be a really 00:04:00.750 --> 00:04:03.610 significant driver of its price. It adds this 00:04:03.610 --> 00:04:06.789 whole other layer of potential value beyond just 00:04:06.789 --> 00:04:09.650 being money, gold doesn't really have that same 00:04:09.650 --> 00:04:11.729 level of industrial demand affecting its price. 00:04:12.030 --> 00:04:14.110 So silver has this kind of dual appeal then, 00:04:14.389 --> 00:04:17.009 score of value and an industrial metal. Does 00:04:17.009 --> 00:04:19.350 that make it a better investment overall? Not 00:04:19.350 --> 00:04:22.569 necessarily better, just different. That industrial 00:04:22.569 --> 00:04:26.250 demand combined with market moods also makes 00:04:26.250 --> 00:04:28.970 silver's price more volatile than gold's. Oh, 00:04:28.970 --> 00:04:31.939 OK. More volatile. Yeah, much bigger price swings. 00:04:32.279 --> 00:04:34.779 So while that could mean bigger percentage gains 00:04:34.779 --> 00:04:37.019 if the market goes up, it also means bigger potential 00:04:37.019 --> 00:04:39.680 losses if it goes down. Exactly. Higher risk. 00:04:40.139 --> 00:04:43.639 So just to recap quickly. Both have value because 00:04:43.639 --> 00:04:47.040 they're scarce. Gold is the classic safe haven 00:04:47.040 --> 00:04:50.319 in rough times. Silver has that industrial kicker, 00:04:50.319 --> 00:04:53.120 but it's a bumpier ride price wise. Got it. OK, 00:04:53.120 --> 00:04:55.339 so let's say someone listening is thinking, all 00:04:55.339 --> 00:04:57.079 right, maybe I should add some gold or silver 00:04:57.079 --> 00:04:59.819 to hedge against inflation. How do they actually 00:04:59.819 --> 00:05:02.279 do it? It's not like ordering groceries, right? 00:05:02.420 --> 00:05:04.920 Ah, not quite. Well, you can actually buy physical 00:05:04.920 --> 00:05:07.339 bullion. That means actual coins and bars. OK, 00:05:07.480 --> 00:05:09.579 physical metal. Yeah, and that's the most direct 00:05:09.579 --> 00:05:11.740 way to own it. For some people, actually holding 00:05:11.740 --> 00:05:14.199 the gold or silver, that tangible aspect, gives 00:05:14.199 --> 00:05:16.439 them a real sense of security, especially when 00:05:16.439 --> 00:05:18.759 the economy feels shaky. I can definitely see 00:05:18.759 --> 00:05:21.620 the psychological comfort in that. But what about 00:05:21.620 --> 00:05:25.100 the practical side? Storing it? That must be 00:05:25.100 --> 00:05:27.500 tricky. You've hit a really important point there. 00:05:27.720 --> 00:05:30.160 Storage and security. I mean, keeping a lot of 00:05:30.160 --> 00:05:32.680 gold or silver at home, that brings up worries 00:05:32.680 --> 00:05:36.420 about theft or even damage, you know? Sure. So 00:05:36.420 --> 00:05:39.040 a lot of people use secure vaults, maybe at a 00:05:39.040 --> 00:05:41.379 bank or these specialized storage facilities. 00:05:41.839 --> 00:05:44.300 But of course, those have fees. Right. Nothing's 00:05:44.300 --> 00:05:46.519 free. And also, when you buy and sell the physical 00:05:46.519 --> 00:05:48.600 stuff, you usually pay what's called a dealer 00:05:48.600 --> 00:05:51.160 premium. Premium. Yeah. It covers the dealer's 00:05:51.160 --> 00:05:53.699 cost of getting and handling the metal. Plus, 00:05:53.720 --> 00:05:56.560 you might have shipping costs. Insurance, it 00:05:56.560 --> 00:05:59.139 adds up. OK, so definitely some logistics and 00:05:59.139 --> 00:06:01.839 extra costs with physical ownership. Are there 00:06:01.839 --> 00:06:03.839 other ways to get exposure to gold and silver 00:06:03.839 --> 00:06:05.420 without actually having bars under your bed? 00:06:05.519 --> 00:06:08.579 Oh, yeah, absolutely. A very popular way is through 00:06:08.579 --> 00:06:11.660 ETFs, exchange traded funds, or mutual funds 00:06:11.660 --> 00:06:13.860 that basically track the price of gold or silver. 00:06:13.980 --> 00:06:16.860 ETFs, right, I've heard of those. So when you 00:06:16.860 --> 00:06:19.660 invest in these, you're buying shares in a fund. 00:06:20.019 --> 00:06:23.019 That fund either holds the physical metal itself, 00:06:23.689 --> 00:06:26.949 or it uses financial instruments derivatives 00:06:26.949 --> 00:06:30.610 to mirror the price. But you don't own the actual 00:06:30.610 --> 00:06:33.089 coins or bars yourself. Okay, that sounds way 00:06:33.089 --> 00:06:35.550 easier from a storage point of view. What are 00:06:35.550 --> 00:06:38.009 the main upsides and downsides there? The big 00:06:38.009 --> 00:06:40.790 advantage is liquidity. It's super easy to buy 00:06:40.790 --> 00:06:43.370 and sell shares in these funds through your normal 00:06:43.370 --> 00:06:45.750 brokerage account. Much simpler if you want to 00:06:45.750 --> 00:06:48.689 adjust your position quickly. But the downside 00:06:48.689 --> 00:06:51.430 is these funds have management fees. Ongoing 00:06:51.430 --> 00:06:53.930 costs? Yeah, they chip away at your returns over 00:06:53.930 --> 00:06:57.189 time. And also, because you don't physically 00:06:57.189 --> 00:06:59.389 hold the medal, you have what's called counterparty 00:06:59.389 --> 00:07:01.790 risk. Counter -party risk. What's that? It basically 00:07:01.790 --> 00:07:03.569 means you're relying on the company managing 00:07:03.569 --> 00:07:06.310 the fund. If that financial institution ran into 00:07:06.310 --> 00:07:09.290 serious trouble, well, it could potentially affect 00:07:09.290 --> 00:07:11.129 your investment. Gotcha. So you're trusting the 00:07:11.129 --> 00:07:13.509 fund manager to do their job and stay afloat. 00:07:13.610 --> 00:07:16.389 Okay, what was the third way the article mentioned? 00:07:16.829 --> 00:07:19.189 The third route is investing in stocks of mining 00:07:19.189 --> 00:07:22.389 companies. Companies that actually dig gold and 00:07:22.389 --> 00:07:24.769 silver out of the ground. Ah, the miners themselves. 00:07:25.110 --> 00:07:27.329 Exactly. The thinking here is if gold and silver 00:07:27.329 --> 00:07:30.009 prices go up, these companies should become more 00:07:30.009 --> 00:07:32.610 profitable, right? And their stock prices might 00:07:32.610 --> 00:07:35.709 rise too. So an indirect play on the metal prices. 00:07:36.040 --> 00:07:38.579 Pretty much. But, and this is a big but, it's 00:07:38.579 --> 00:07:40.740 crucial to understand their stocks are affected 00:07:40.740 --> 00:07:43.959 by way more than just metal prices. Like what? 00:07:44.180 --> 00:07:46.319 Oh, all sorts of things. How much it costs them 00:07:46.319 --> 00:07:48.860 to operate, how good their management team is, 00:07:49.459 --> 00:07:51.959 geological surprises in their minds. Political 00:07:51.959 --> 00:07:54.439 issues, too, maybe. Definitely. Political instability 00:07:54.439 --> 00:07:56.459 in the countries where they operate can be a 00:07:56.459 --> 00:07:59.079 huge factor. So their stock price might move 00:07:59.079 --> 00:08:01.439 quite differently from the actual gold or silver 00:08:01.439 --> 00:08:03.680 price sometimes. You really need to research 00:08:03.680 --> 00:08:06.389 the specific companies. OK, so. Multiple ways 00:08:06.389 --> 00:08:10.769 to invest. Physical, ETFs, mining stocks, each 00:08:10.769 --> 00:08:13.470 with its own pluses and minuses. Now we've talked 00:08:13.470 --> 00:08:15.689 a lot about them being inflation hedges, but 00:08:15.689 --> 00:08:18.470 what about the risks? Are there inherent dangers 00:08:18.470 --> 00:08:21.250 we need to keep in mind? Absolutely. No investment 00:08:21.250 --> 00:08:23.610 is risk free, and gold and silver are no exception. 00:08:24.269 --> 00:08:26.610 One of the biggest risks is just market volatility. 00:08:26.829 --> 00:08:28.790 Those price swings you mentioned with silver. 00:08:28.970 --> 00:08:31.949 Exactly. But gold can be volatile too, just usually 00:08:31.949 --> 00:08:34.850 less so than silver. Prices for both can fluctuate 00:08:34.850 --> 00:08:37.919 quite a bit. depends on global supply, demand, 00:08:38.440 --> 00:08:41.580 big geopolitical events, even just investor mood, 00:08:41.580 --> 00:08:43.720 you know? So the price isn't guaranteed to go 00:08:43.720 --> 00:08:45.720 up just because inflation is high. It can still 00:08:45.720 --> 00:08:47.960 drop. Oh, absolutely. There can be big swings 00:08:47.960 --> 00:08:51.320 both ways. Now, that volatility can be an opportunity 00:08:51.320 --> 00:08:53.620 if you're trying to trade short term. But that 00:08:53.620 --> 00:08:56.659 sounds risky. It is. It's challenging. It also 00:08:56.659 --> 00:08:58.879 means you could face losses, especially if you 00:08:58.879 --> 00:09:01.139 need the money quickly or you try to time the 00:09:01.139 --> 00:09:03.480 market perfectly. The article makes a good point. 00:09:03.850 --> 00:09:06.649 A long -term view often helps navigate these 00:09:06.649 --> 00:09:08.789 ups and downs. And diversification, I imagine. 00:09:09.090 --> 00:09:11.909 Crucial. Absolutely crucial. Spreading your investments 00:09:11.909 --> 00:09:14.570 across different types of assets helps cushion 00:09:14.570 --> 00:09:17.110 the blow if one part of your portfolio takes 00:09:17.110 --> 00:09:19.490 a hit. We also touched on the risks with physical 00:09:19.490 --> 00:09:22.669 storage. Anything else on that front? Yeah. Well, 00:09:22.730 --> 00:09:25.110 beyond theft or damage at home, there's also 00:09:25.110 --> 00:09:28.370 liquidity. Selling physical bars or coins might 00:09:28.370 --> 00:09:31.159 not be instant. like selling an ETF share. Right, 00:09:31.399 --> 00:09:33.240 finding a buyer agreeing on a price. Exactly. 00:09:33.480 --> 00:09:36.059 And you might face extra costs when you sell, 00:09:36.120 --> 00:09:38.720 depending on the dealer. And while professional 00:09:38.720 --> 00:09:41.179 storage is secure, like we said, it's an ongoing 00:09:41.179 --> 00:09:43.940 expense that eats into your potential profit. 00:09:44.320 --> 00:09:46.480 OK. And what about just compare the cost generally 00:09:46.480 --> 00:09:51.539 between physical ETFs, stocks? They differ a 00:09:51.539 --> 00:09:54.700 lot. They definitely do. Physical has those upfront 00:09:54.700 --> 00:09:57.720 dealer premiums, maybe shipping, then potentially 00:09:57.720 --> 00:10:01.139 ongoing storage fees. ETFs and mutual funds, 00:10:01.139 --> 00:10:03.100 they have those recurring management fees, plus 00:10:03.100 --> 00:10:05.299 maybe brokerage commissions when you buy or sell 00:10:05.299 --> 00:10:08.019 shares. Mining stocks have brokerage commissions, 00:10:08.340 --> 00:10:10.179 too. So you need to factor those in. You really 00:10:10.179 --> 00:10:12.659 do. You need to compare the costs for each option 00:10:12.659 --> 00:10:14.539 and think about how they fit with your overall 00:10:14.539 --> 00:10:16.960 plan and how long you expect to hold the investment. 00:10:17.379 --> 00:10:19.759 You don't want fees eating up all your gains. 00:10:20.169 --> 00:10:23.009 sense. So thinking strategically then, how should 00:10:23.009 --> 00:10:25.289 someone actually incorporate gold or silver into 00:10:25.289 --> 00:10:27.950 their portfolio? Is there like a rule of thumb 00:10:27.950 --> 00:10:30.570 percentage? That's a really key question. And 00:10:30.570 --> 00:10:32.509 yeah, the source material does touch on that. 00:10:32.929 --> 00:10:35.169 A common guideline you often hear from financial 00:10:35.169 --> 00:10:38.029 advisors is maybe think about allocating somewhere 00:10:38.029 --> 00:10:41.590 around, say, 5 % to 10 % of your total investment 00:10:41.590 --> 00:10:44.190 portfolio to gold and silver. 5 % to 10%. Yeah. 00:10:44.289 --> 00:10:47.289 That level can act as a potential inflation hedge 00:10:47.289 --> 00:10:50.490 and add some diversification, hopefully without 00:10:50.490 --> 00:10:52.309 dragging down the growth potential from your 00:10:52.309 --> 00:10:54.970 other assets, like stocks too much. So it's about 00:10:54.970 --> 00:10:56.649 balance, not putting all your eggs in the precious 00:10:56.649 --> 00:10:59.350 metals basket. Exactly. all about diversification. 00:10:59.850 --> 00:11:03.649 Stocks, bonds, maybe real estate, gold and silver 00:11:03.649 --> 00:11:06.470 should just be one piece of a broader balanced 00:11:06.470 --> 00:11:08.970 strategy. And it's not something you just set 00:11:08.970 --> 00:11:11.669 and forget either. You should regularly review 00:11:11.669 --> 00:11:14.509 your whole portfolio, see how things are performing, 00:11:14.870 --> 00:11:17.529 and rebalance your allocations if needed. Market 00:11:17.529 --> 00:11:20.450 conditions change, your goals might change. OK. 00:11:20.629 --> 00:11:22.629 And what about your investment time frame? Does 00:11:22.629 --> 00:11:26.210 that affect how you should view gold and silver, 00:11:26.509 --> 00:11:29.090 long term versus short term? Oh, definitely plays 00:11:29.090 --> 00:11:32.070 a big role. For long -term investors, gold and 00:11:32.070 --> 00:11:34.789 silver can potentially act as that reliable store 00:11:34.789 --> 00:11:37.350 of value we talked about, protecting wealth against 00:11:37.350 --> 00:11:40.750 inflation, eroding its power over decades. So 00:11:40.750 --> 00:11:43.309 patience is key. Patience helps ride out those 00:11:43.309 --> 00:11:46.399 price swings, for sure. Short term investors, 00:11:46.700 --> 00:11:48.860 they might try to trade the fluctuations, try 00:11:48.860 --> 00:11:51.159 to buy low and sell high quickly. The higher 00:11:51.159 --> 00:11:54.139 risk strategy. Generally, yes. More speculative 00:11:54.139 --> 00:11:56.419 needs a really good understanding of the market. 00:11:56.899 --> 00:11:58.980 So aligning your investment horizon with your 00:11:58.980 --> 00:12:01.320 financial goals is just, well, it's essential. 00:12:01.620 --> 00:12:04.039 The article also mentioned putting gold and silver 00:12:04.039 --> 00:12:06.419 in your retirement fund. How does that actually 00:12:06.419 --> 00:12:09.120 work? Yeah, it brings up the idea of a gold IRA. 00:12:09.379 --> 00:12:12.320 Gold IRA. So unlike a typical IRA, which usually 00:12:12.320 --> 00:12:14.519 holds stocks, bonds, mutual funds, that kind 00:12:14.519 --> 00:12:17.679 of thing, a gold IRA lets you hold physical precious 00:12:17.679 --> 00:12:20.840 metals, actual gold or silver bullion, inside 00:12:20.840 --> 00:12:23.559 your retirement account. Wow. OK. Physical metal 00:12:23.559 --> 00:12:25.799 in your retirement account. Yeah, our source 00:12:25.799 --> 00:12:27.960 material actually points to a couple of other 00:12:27.960 --> 00:12:30.379 articles specifically on this. What is a gold 00:12:30.379 --> 00:12:32.980 IRA and how does it work and how do you start 00:12:32.980 --> 00:12:35.419 a gold IRA? Yeah, they go into the details like 00:12:35.419 --> 00:12:38.480 how you might transfer or roll over funds from 00:12:38.480 --> 00:12:41.039 an existing retirement account. So it's another 00:12:41.039 --> 00:12:43.620 potential way to use gold and silver for inflation 00:12:43.620 --> 00:12:46.980 hedging specifically for your long term retirement 00:12:46.980 --> 00:12:48.580 planning. That's definitely a different angle 00:12:48.580 --> 00:12:51.299 for retirement savings. Well, this has been incredibly 00:12:51.299 --> 00:12:54.779 insightful. A real deep dive into gold and as 00:12:54.779 --> 00:12:57.919 potential inflation hedges. Any sort of final 00:12:57.919 --> 00:13:00.340 takeaways for our listeners as they chew on all 00:13:00.340 --> 00:13:02.840 this? Sure. I guess the main summary is that 00:13:02.840 --> 00:13:04.759 gold and silver, they have this long history 00:13:04.759 --> 00:13:07.360 as stores of value. They can be useful tools 00:13:07.360 --> 00:13:09.340 for potentially protecting your wealth against 00:13:09.340 --> 00:13:11.440 inflation's bite. Right. You've got different 00:13:11.440 --> 00:13:13.759 ways to invest, holding the physical metal, using 00:13:13.759 --> 00:13:16.580 ETFs for convenience, or investing in mining 00:13:16.580 --> 00:13:19.580 stocks. Each has its pros, its cons, its risks. 00:13:19.720 --> 00:13:22.519 The really crucial thing is to understand these 00:13:22.519 --> 00:13:24.960 options. Think hard about your own financial 00:13:24.960 --> 00:13:27.000 goals, how much risk you're comfortable taking, 00:13:27.240 --> 00:13:30.100 and then strategically fit precious metals, if 00:13:30.100 --> 00:13:33.419 you choose to, into a well -diversified overall 00:13:33.419 --> 00:13:36.399 portfolio. Don't go all in. Good advice. And, 00:13:36.519 --> 00:13:38.220 you know, the article does mention some analysts 00:13:38.220 --> 00:13:40.960 are pretty optimistic about gold prices for 2025 00:13:40.960 --> 00:13:44.519 and predict a possible surge for silver too. 00:13:44.860 --> 00:13:46.980 Now, obviously, those are just predictions, right? 00:13:47.019 --> 00:13:49.259 No guarantees. Of course. Crystal balls are always 00:13:49.259 --> 00:13:51.860 fuzzy. Exactly. But it shows there's ongoing 00:13:51.860 --> 00:13:54.980 interest. So, maybe the final thought for you, 00:13:55.039 --> 00:13:57.820 the listener, is to consider what role, if any, 00:13:58.019 --> 00:14:00.399 these medals might play in your long -term plan. 00:14:00.960 --> 00:14:03.600 And maybe, if retirement saving is top of mind, 00:14:04.039 --> 00:14:06.259 looking into something like a gold IRA might 00:14:06.259 --> 00:14:08.659 be worth exploring further. The author of the 00:14:08.659 --> 00:14:11.139 article we used, Doug Young, he's got a lot of 00:14:11.139 --> 00:14:13.259 experience in this area, so it's a credible perspective 00:14:13.259 --> 00:14:15.379 to consider. Definitely a lot for everyone to 00:14:15.379 --> 00:14:16.700 think about. Thanks so much for breaking all 00:14:16.700 --> 00:14:18.179 that down for us. It's been really helpful.