[Music] The gold race has been on a record setting run this year, breaking milestones left, right, and center. For longtime precious metals investors, the move is no surprise. Gold's drivers have been stacking up for years, and in 2025, they've been coming to a head. Factors working in gold's favor include central bank buying, global geopolitical tensions, the trend toward dolorization, and increasing concerns about fiat currencies in general. All of these elements are boosting the yellow metal's


safe haven appeal for investors. But while the reasons to own gold are clear, its ascent is raising questions about whether gold is still a buy at all-time highs, as well as how much gold to own right now. The short answer is that every person is different. It's up to you to know yourself and your portfolio and to make decisions about if and when to buy gold and how much to hold. The long answer is more complex. And to help investors figure out what to do, I've pulled together thoughts from five


precious metals experts. Let's start by looking at whether it makes sense to buy gold at record high prices. The broad consensus is that it largely depends on whether you own gold already. Essentially, if you don't own any gold at all and have decided you want to have a position, it makes sense to start building it sooner than later, even at today's elevated prices. However, that doesn't mean you should buy all the gold you want at the same time. The common recommendation is to dollar cost


average. That means buying the same amount at set intervals. It's a way of making regular investments and eliminating timing issues. Andy Sheckchman of Miles Franklin does a great job of explaining his take on this strategy. The best piece of advice I ever received was from my father. And I'll and I'll I'll say this especially for younger people. I started this company in 1989 with my dad. Um I was 19 years old and there was no internet. And then and we started in an office the size of a


closet and he borrowed money from his best friend whose middle name was Franklin. His middle name is Miles. We come from nothing. We're the American dream. He said to me, "I won't let you make the same mistake I've made as a younger man. The only rule at this company for you and I to build this would be that you'll buy something gold or silver every two weeks when you get paid. Period. I don't care if it's 1 oz of silver. And honestly, Charlotte is the best advice I've ever been given in


my life. And everyone who works for me, I say the same thing. I've owned the company outright for two decades. >> If you do already own gold, its rapid price rise may have left you wondering if you own enough. Again, that's a personal question, but I'll walk you through what experts suggest. In previous years, I've typically heard that investors should consider having a 5 to 10% allocation to gold depending on age and other factors like risk tolerance, but that number has been


changing. This year, I've been hearing 20% recommended more frequently. Here's how James Anderson of SD Bullion explained it. >> If you don't have position already, then you better start, you know, that that you start onesie twoosy kind of dollar cost average in and start building position. And the same goes with silver. You know, it's basically I, you know, the fact on a relative basis that they're so cheap versus the stock market and fiat currencies and virtually every


other thing you can name on a long-term chart is why you definitely need to have, you know, an an aggressive position in gold and silver. I mean, I would argue 20% of your liquid net worth needs to be allocated to bullion at this time. >> 20% might sound high and as mentioned, it is high compared to what I've heard in different times. It's definitely becoming more mainstream, though. In fact, in midepptember, Mike Wilson, chief investment officer at Morgan Stanley, suggested that a 60 2020 20


portfolio where 20% is directed to gold, would offer better protection against inflation. How you break down your gold exposure is up to you, but physical metal is considered the least risky option. In terms of stocks, royalty and streaming companies are also seen as relatively low risk, as are the largest miners. risk increases heading into the developers and explorers. As a final point, it's worth putting gold's price rise into context. I've heard from many market watchers that even though the


yellow metal is at or near all-time highs, it's still cheap relative to where it could go in the future. Here's what Rich Czechen of Asset Strategines International said on that point. >> For about 3 4 years now, I've been saying that that gold at all-time highs is dirt cheap. Um, silver is even cheaper, well below all-time highs for silver. Um, and the reason I said that three years ago, two years ago, last year and now is the western investor still not in this marketplace. And, uh,


when when they get in, you know, so European investors, North Americans, when we get in this market and start buying, not selling like we are right now, um, we start buying, it's going to make a huge impact on the price. Uh, and they're not in it. I've got a couple indicators that dictate to me that we are not seeing investment buying right now. >> Haimey Carrasco of Harbor Front Wealth made a similar comment. >> You know, people might be saying, "Oh, 3,600 here we are. We're going to pull


back. You might as well wait. Concentrate on price." You know what? That's all fine and dandy, but on that road ahead, it's important to understand that for gold as money to do what it has done for 4,000 years, and what I mean by that is to settle the trade trade settlement of the countries of the world, its price has to be way higher than $3,600 to achieve that. And because of that, I think to me it's more important to to understand where we're going. not necessarily how we're going to get there


because that's that's the fun part, you know, the fact that it took how many years for gold to break through 2000. Now we're through it. Now we're we're we're fighting higher. But more importantly, that that is inevitable. >> So, is gold a buy at all-time highs? That's a choice for you to make on your own, as is the amount you allocate to gold. What's clear from the experts I've been speaking with is that the fundamental grounds for gold ownership don't disappear just because the price


is high. In reality, a record- setting gold price could mean they're more relevant than ever. On that note, I want to end with a clip from Rick Rule of Rule Investment Media, who often speaks about the circumstances where gold thrives. You've told us many times that we shouldn't really be hoping for a higher gold price because it probably means that something is going wrong in the world. So, what are people reacting to right now that has sent gold up so high? >> Something's going wrong in the world. It


isn't that gold is going up, it's that the purchasing power of the dollar is going down. I I I said in a previous interview, Charlotte, but when people ask me when the price of gold's going to go up, I scratch my chin sagely, and I say 2000. In 2000, it was 250 bucks an ounce. Now, it's what, 29? So, it's up sevenfold. It's gone up 8% a year for 25 years compounded. That's up. I think it's going to go higher. >> Yeah. >> Because I think the arithmetic around


the US dollar, not relative to other currencies, but relative to real things, is going to go down. Uh I'm afraid, literally afraid that gold is going to go much higher because the circumstance that causes it to go much higher is unpleasant for the rest of our lives. And your life and my life are pretty good. >> I'd love to hear about your current gold strategy. So, please drop a comment below and feel free to share any other topics that you'd like me to cover. Thank you for watching. If you like this


video , make sure you hit the like button and subscribe to our channel. We'd also love to hear your thoughts, so leave us a comment below. [Music]