Kitco gold analyst Jon Nadler says the cost of bullion is now so high it's sending jewelers bankrupt. Even Zales is at risk, he says. Stocks in this video: ZLC | IAU | JCP | GLD | TIF | GDX
He can't mention any Jewelers, because he's full of shit. He's lying his ass off.
The markup of jewelry is huge. If don't believe me, go buy any jewelry and then go right around and get it appraised. Do this especially for diamonds.
Time to get out of Kitco's pool accounts before the ugly truth is revealed. If you don't have the real thing in your possesion, then don't count on getting your "pool" metals in the future.
Nadler is either an idiot or a bold faced liar. Nobody can believe the BS he writes. He believes the only use for gold is as jewelry, and that it has no monetary use.What is even more astounding is that he is often quoted by the media??? He has been wrong on this gold bull market so far, and now that it's over 1K he's calling it a bubble. Apparently he has no idea what the government printing press can do to the price of gold.
Jewelers arent going bust. They mark their crap up so high they can afford it. The bottom line is gold has been undervalued for 3 decades and its time to pay the piper. Gold will hit 6k an ounce within 5 years. As for jewelers, all their crap is gold plates. They dont sell 24k gold. Who cares if they go bust.
Does this guy work for FOX news !!!
ziparmux 1 year ago
He can't mention any Jewelers, because he's full of shit. He's lying his ass off.
The markup of jewelry is huge. If don't believe me, go buy any jewelry and then go right around and get it appraised. Do this especially for diamonds.
fuzzywzhe 2 years ago 2
Time to get out of Kitco's pool accounts before the ugly truth is revealed. If you don't have the real thing in your possesion, then don't count on getting your "pool" metals in the future.
magic038 2 years ago 2
Nadler is either an idiot or a bold faced liar. Nobody can believe the BS he writes. He believes the only use for gold is as jewelry, and that it has no monetary use.What is even more astounding is that he is often quoted by the media??? He has been wrong on this gold bull market so far, and now that it's over 1K he's calling it a bubble. Apparently he has no idea what the government printing press can do to the price of gold.
gigie555 2 years ago
i hate this guy . he's bought and payed for!
Kitco bitch! gold at $1050
rich232399 2 years ago
Jewelers arent going bust. They mark their crap up so high they can afford it. The bottom line is gold has been undervalued for 3 decades and its time to pay the piper. Gold will hit 6k an ounce within 5 years. As for jewelers, all their crap is gold plates. They dont sell 24k gold. Who cares if they go bust.
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BrittPhillips 2 years ago
Boy, given gold's advance since then, this was pretty bad advice. Nadler's a shill anyway, IMO.
spudboy64 2 years ago
If you really want to tell us something interesting Nadler, explain why Kitco pays you money to trash the product they (supposedly) sell.
lorax2013 3 years ago
This man is a sick dude...He wants it to drop...Kitco will go broke in time.... Paper loser,...Kitco has very little silver and gold and he knows it!
gete0 3 years ago