Over the years, I believe I’ve written on this topic three or four times but now it is even more relevant. “What” would you sell your gold for? The question is not “why” because the answer to this could be far ranging and differs by individual. You might want or even need to sell gold for any number of reasons such as living expenses, to pay off a debt(s), for medical reasons, or any number of other circumstances.
Before getting to the topic of “what”, as you can imagine, we get all sorts of questions that don’t really make sense once you break the question down. For instance, I can’t tell you how many times people have asked “but if the system goes down, how can I sell my gold if no one has money to buy it from me? Who will buy it”? When this becomes the case and markets are either in disaster mode or even closed (and gold is priced at much higher levels in dollar or any other currency terms), unless you are selling your metal for something you absolutely need…what would be the purpose of your sale? To lock in your “profit”? Really?
Think this one through from the eyes of a Venezuelan? Gold has skyrocketed (as has everything else) in Bolivar terms, would it make sense for a Venezuelan to sell his metal and accept Bolivars in return? What happens the next day or day after that when the Bolivar devalues even more? What happens when the Bolivar goes to zero? The reality is this, gold IS money itself whereas Bolivars are simply a currency. Currencies are a medium of exchange, NOT a store of value. History is full of similar examples.