The price of Gold is soaring! Why?

NBC's Rory O'Neill reports on why the prices has jumped to $4,000 an ounce. Meanwhile people are less likely to travel for the holidays

Episode Transcript

Speaker 1 (00:00):
Six forty six Colubus This Morning News Mike Elliott, Rory
O'Neil joining me on the Legacy Retirement Group dot com
phone line from NBC News Radio. Rory is feverishly searching
his house for all the gold jewelry he can find
to give it to a place where he can melt
it down and get some cash. Four thousand dollars and
ounce for gold, Rory.

Speaker 2 (00:18):
Yeah, the number just keeps on climbing, and it's a
bit of a head scratcher. You know, Normally people rush
to gold and the value of gold goes up because
there are tough economic times and you know, things aren't fantastic,
but they're not that bad, and it seems like we'd
come out of this cycle of inflation. But it's been
another run up and gold is up fifty three percent

(00:40):
this year, out performing some of those biggest names in
stocks like Nvidia. Wow.

Speaker 1 (00:44):
I mean, so is it physical gold people are after?
I mean, I still don't know, or is it is
it just investing? Is it paper gold where you just
invest in gold features?

Speaker 2 (00:54):
Well, no, because there's still a rush on actual gold.
Costco has been selling gold quite a bit. You know
that you can buy the ingots there right at Costco
and they've been a huge, huge seller, believe it or
not for Costco with people wanting to get that physical asset.
And you know, one of the issues comes to selling
gold and how much do you really make and how

(01:15):
much is it really versus you know, because if you
are bringing in grandma's old necklace, obviously the proprietor needs
to take their cut. But still, I think a lot
of people will be going through their old jewelry to say,
I don't know, this might pay for Christmas.

Speaker 1 (01:29):
Yeah, no, it's an interesting thought too. And the price
of silver is up as well, so you know, precious
metal seeing some high numbers right now as is. And
then you're in the you're right in the backyard Disney.
The prices for theme parks also skyrocketing right.

Speaker 2 (01:45):
Now, they are, and you know a lot of they
will tell you this that a lot of the reason
the theme park prices are so high is to keep
the crowds down. It really twenty five. If it was
twenty five dollars a day to get into Disney World,
you'd have a million people showing up every day. But
by now pricing it, it's going to be over two
hundred dollars for one person to go one day Christmas

(02:09):
week of next year is a two oh nine. It's
going to be the price next Christmas. Right now, for
this Christmas, it's just a measly one ninety nine. It's
tak on Main Street USA on the day after Christmas.
But yeah, over two hundred dollars and it's even a
couple bucks more to go to Disneyland in California.

Speaker 1 (02:27):
That's crazy. And they do a sort of a sliding
scale on ticket prices based on demand, do they not?

Speaker 2 (02:34):
They do. It's like getting a hotel room. There's peak season,
off season. The cheapest of the cheap, cheap, cheap that
you can get anytime next year is going to be
a one day ticket for the Animal Kingdom that comes
in at one hundred and nineteen dollars plus tax