South Korea Buying Gold In Convenience Stores | The Economic Ninja

➡ The Economic Ninja talks about how South Koreans are increasingly buying gold bars and coins from convenience stores and vending machines, with people in their 30s making up over 41% of total sales. This trend is due to concerns about the US dollar’s stability and a desire for safe investments. The gold bars, which are as small as a fingernail and weigh between 0.1 gram and 1.87 grams, often sell out quickly. This surge in gold purchases reflects a global trend of turning to gold during economic uncertainty.

Hey, everybody. Economic ninja here. I hope you’re doing great. We’re gonna talk about gold. Gold. The smell of it, the taste of it. I once lost my genitalia in a rare smelting accident. Name what movie that’s from. We’re gonna be talking about gold bars. Gold coins. They’re selling like hotcakes in Korea’s convenience stores and vending machines. Those Koreans. Holy cow, they’re waking up. And what’s even crazier is the demographic, the age group of Koreans that are buying these gold bars now all around the world.

The world’s figured it out. Us dollar is going to crap. They’re printing money like it’s candy. They’re trying to hand it out to other countries, and other countries are going, no bueno. No bueno. So this is out of CNBC. And again, once it’s in the mainstream, it’s too late, right? Well, you know what’s crazy about that phrase is that most of the american people are still completely confused and confounded by the mainstream media.

And they’re eating, they’re drinking the Kool aid, they’re eating and chewing on the narrative, and they still haven’t figured it out. But the rest of the world is buying up gold like crazy, and they’re dumping dollars. Check this out. Aside from ramen and sausages. Oh, man, don’t even get me started on korean barbecue. I love that stuff. South Korea’s convenience stores have a new popular item on the menu, gold bars.

The country’s largest convenience store chain, Cu, has been collaborating with the Korea Minting and Security Printing Corporation to offer customers mini gold bars. And they’re selling like hot cakes. You gotta hand it to the Koreans. The Chinese, there are people all over the world. Actually, they’re buying up gold because they figured it out. But Americans, well, I gotta be honest with you. Our financial education’s not so good.

I blame the government. But then again, I also blame ourselves, because we’re all adults and we can all figure it out one day. It’s just, at what point will most people in America figure it out? Let me know. Down below. Now, it says a variety of fingernail sized gold bars. Boy, that’d be weird if you actually had a gold bar shaped like a fingernail weighing between 0. 1 gram and 1.

87 grams have been up for sale at CU outlet since April. A 1. 8 grams bar sells for ₩225,000, which equates to 165,000. $165,000. Ninja, wake up. I need coffee. I haven’t even had any yet. $165 and a half a gram bar sells for ₩77,000 now. 1 gram bars were sold out within two days, according to local news reports. The bars come with congratulatory messages, birthday wishes, and even designs for personal types.

It should say things like, congratulations, you’re getting off the US dollar. That’s what it should say. Those would really sell out people in their thirties now think about this. This is the exciting part. People in their thirties were most active in purchasing these gold bars, accounting for over 41% of total sales since their launch. That is awesome. I wish people in their thirties, early thirties and late twenties were buying them up in America.

Those aren’t the people that are racing down to Costco to buy gold bars. But I have hope. If you’re in your thirties, let me know down below if you own gold. That just gets me super psyched. Now. It says demand for the bars and coins in South Korea rose 27% year on year to five tons in the first quarter of this year amid rising prices in the yellow metal.

The World Gold Council says in a recent report this was the sharpest quarterly increase in gold purchases in South Korea in more than two years. Other convenience stores are also riding the bullion wave. In South Korea’s GS 25 convenience store chain, customers can buy small gold wafers from vending machines. Typically in times of economic uncertainty, when the local currency depreciates, demand for golden for physical gold and physical jewelry will increase as domestic investors seek investment for safe haven assets, said Hen Kun hao, head of market strategy of global economics and markets research at UOB.

According to the Korea Gold Exchange, prices have surged in gold to a record 456,000 yuan, or $335 per 3. 75 grams, or zero point 13oz. Conversely, the korean won has weakened over 5% against the greenback so far this year, currently trading at 1358 against the dollar. So look, here’s the deal. Gold’s taken off like a rocket ship, and if you don’t think the price is that impressive, guarantee you this is what’s going to happen.

What is taking off is the understanding, the knowledge about gold and its significance in difficult economic times or times of uncertainty. And what’s happening is the acceleration of buying is happening, and then there’s a point where you just can’t get it and watch what happens to the price then. I hope you got something out of this. If you’re buying gold, hashtag gold down below. Hope you have a great day.

The ninja is out. .

See more of The Economic Ninja on their Public Channel and the MPN The Economic Ninja channel.