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Speaker 1: And have you seen how much gold is worth lately?

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Speaker 1: Yesterday it hit another new record five thousand US dollars

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Speaker 1: an ounce that was up sixty percent last year alone.

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Speaker 1: And if you watch this stuff closer, you'll know it's

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Speaker 1: not just happened suddenly overnight. It's been building slowly but

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Speaker 1: surely since basically since Trump took office. Investors looking for

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Speaker 1: safer places to put their money, all that sort of stuff.

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Speaker 1: People have been worried about the AI bubble bursting, so

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Speaker 1: they put their money into gold instead of into stocks.

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Speaker 1: The price skyrockets, But the speed that this is happening,

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Speaker 1: particularly just recently, is pretty remarkable. You might remember last

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Speaker 1: year in December I told you about JP Morgan. They

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Speaker 1: were predicting the price would hit five thousand dollars by

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Speaker 1: quarter four of this year, and it's just hit that

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Speaker 1: price in quarter one. Goldman Sacks they were saying yesterday

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Speaker 1: it'll hit five thousand, four hundred by the end of

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Speaker 1: this year. But at this rate, that might be underselling

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Speaker 1: it too, don't you Reckon honestly makes you want to

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Speaker 1: rip your wedding ring off your airings and flog them.

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Speaker 1: Get them on trade me asap. One thing is for

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Speaker 1: sure these prices, gold diggers, the prospectors that is not

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Speaker 1: the sort cargne things about, will be lining up to

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Speaker 1: get the stuff out of the ground quicker than you

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Speaker 1: can say fast track. Every time the price goes up,

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Speaker 1: so too does the value of those projects. The quicker

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Speaker 1: that they can get up and running in places like

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Speaker 1: Otago and Yhe which has been given the fast track,

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Speaker 1: by the way, the better the return for the investors.

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Speaker 1: There's only around it, you know this, two hundred thousand

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Speaker 1: tons of gold that's ever been mined, mostly this has

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Speaker 1: happened since nineteen fifty. It's enough to fill two or

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Speaker 1: three Olympic sized swimming pools, fascinating a every gold bar

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Speaker 1: and a vault, every wedding ring, every necklace melted down

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Speaker 1: doesn't actually amount to that much, does it? And they reckon.

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Speaker 1: There's about sixty four thousand tons remaining underground that's successible

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Speaker 1: to mine, and that makes this rare and precious metal,

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Speaker 1: which will surely become more precious as the world becomes

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Speaker 1: more uncertain. For more from Early Edition with Ryan Bridge,

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Speaker 1: Listen live to News Talks at b from five am weekdays,

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Speaker 1: or follow the podcast on iHeartRadio.