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However, this correction has multiple overlapping layers of interest that cause the price of gold to behave strangely and in a way that has never happened before in multi-dimensional history. Therefore, whenever we hear it often and clearly, we will feel that ah, war is coming, gold must rise, inflation is coming, gold must rise, oil is coming, gold must rise because oil is inflation. Ah, then why is gold falling? This means that these three theories are all wrong now. If you were an investor now, to protect your risk, would you buy gold? Because honestly, what is the risk now? The risk is Our goal is to take this channel to 1 million subscribers. Please press Subscribe. We now have YouTube Membership. Just by subscribing, you will receive exclusive content and seminars from PRP and Team Business Tomorrow. Gold has fallen by about 70 dollars now, and as I said, it has fallen by about 21% from its peak. This is a major correction, or this is the end of the big bull market. Khun Moo, uh, I don't think it's the end of the cycle. I don't think it's the end of the cycle or anything like that. But this correction has multiple overlapping layers of interest that cause the price of gold to behave strangely and in a way that has never happened before in multi-dimensional history. The first dimension, uh, we've discussed before that there are 3 major groups of investors that drive the price of gold. Group 1, the pillar, to put it briefly, is the group that buys for speculation and to protect against all kinds of risks, whether it's inflation, war, or currency depreciation. We call this Group 1. This group used to be the largest, dominating the gold market for decades. Then, in the last 20 years, Group 2 has increased its weight, which is the group of investors who buy primarily for returns. In the last 3-40 years, how have we observed this? Because when the Fed pressed interest rates to 0, which happened 2-3 times, right? In '08, definitely once, and then around '19-20, with COVID, it was also pressed very low, right? And this made this group, this clear and large group, emerge: buying for returns. Because if, for example, the Fed's interest rates are 0, US bonds are almost 0, right? The yield will be low, and so on. This is Group 2. Therefore, whenever we hear it often and clearly, we will feel that ah, war is coming, gold must rise, inflation is coming, gold must rise, right? Oil is coming, gold must rise because oil is inflation, right? And oil will cause the economy to collapse, so money is risk. Ah, gold must rise. But let's come back to today. These 3-4 things I mentioned are all wrong. It's not any one thing. Ah, today war is coming, ah, gold is falling, not rising. Ah, oil is rising, ah, gold is falling. Ah, hey, what's going on? You're confused, right? Eh, inflation is rising now, in the US. Ah, then why is gold falling? This means these three theories are all wrong now. People will be confused, right? They see that hey, what is happening today? You see? That's why I say there are complex and hidden stories. Do you know why? Do you know the Amazon River, Guitar? Have you seen how its tributaries meet, one side yellow, one side black? >> Yes, Khun Moo. Have you seen this picture? >> Yes. >> It's like that now. Gold is like the Amazon River, simply put. But the tributaries, or the flows, have changed chaotically. It's so chaotic now that analysis can't make sense of it. How is it possible? These 3-4 things I mentioned, why are they completely reversed? I'm not a monk, but I have to use this word, reversed. >> How? >> Right? Are you confused? And then there's Group 3. It's not complete yet. I just mentioned 2 groups. >> Yes. >> And I stopped because I did it intentionally. Because most people only think of these two groups. But Group 3 is usually given less weight. And I will be one of the first to give the highest weight to Group 3, that it will rise. Now, Group 3 is those who buy gold as currency, as a back-up, meaning to fight against the dollar, to put it simply. This has never happened in history. It happened before 1971, before the US abolished the gold standard. But after that, the US could create dollars and dominate the world, and gold lost much of its importance. Until 2022, this Group 3 emerged. But Group 3 investors are central banks. The question is, the gold that has been rising high, low, high, low continuously, does it come from Group 3? And the fact that it's so volatile comes from Group 1. Because Group 1 enters and exits quickly. Suppose the situation changes, ah, then enter, then exit, then short, then long, then take profit. As for Group 2, if you ask me now, before this, they also participated, jumped on the bandwagon. But now they've disappeared. That is, if you trace it now, let's start with Group 2, who buy for returns. The question is, for returns, will the Fed raise or lower interest rates now? You don't even know. When will the war end? You don't know either. Even if inflation rises to 4%, are you sure the Fed will raise interest rates? Not sure. Because most people don't analyze that deeply. They just think, hey, let's wait and see. Therefore, Group 2 has disappeared now. They haven't even come back to buy since it collapsed from 5,600. And what about Group 3? Ah, the central bank group? Eh, why did they come to buy? Now it's a bit reversed. There are some central banks selling, not buying. But the Chinese central bank is not selling, it's buying a lot now. It's still buying. But there are central banks like Turkey, Russia, Poland that are selling. Why are they selling? Ah, each for their own reasons. Russia is selling because it wants money. Because gold is abundant now, it's okay to sell a little. They take this money to fight the war, to finish the attack on Ukraine quickly. Because they are very angry with Ukraine now. Ukraine is attacking every day. You probably know, there might be interviews about this. I understand, right? I'll skip this part for now. Russia is very angry now. To the point of telling people in Kyiv to leave, they will attack. >> Yes. >> So they need money. Russia sold some. Poland also sold some because Poland now wants to buy weapons to defend itself. As for Turkey, it also sold, but for what reason? For the reason that Turkey is very >> Turkey is very >> So Turkey has to get dollars from selling gold to buy imported oil at high prices. This is Turkey. Because Turkey probably doesn't have it like China, right? Iran probably won't sell to Turkey cheaply, right? This is not the case. Russia probably won't sell to Turkey cheaply either, right? Because they are not true friends, not true allies, right? No, right? Therefore, these three banks are selling. People will feel that ah, the central bank, which is supposed to be pushing it up, not only isn't buying, but is also selling. And the price is falling. That's why I say Group 2 has disappeared. There is no support. Group 3 is not, not, not coming to support, but is pressing down. But it's not much. I'll use the word "pressing" for now. Now, let's go back to Group 1, who buy for risk protection. I ask Guitar, if you were an investor now, to protect your risk, would you buy gold? Because honestly, what is the risk? The risk is not knowing what will happen. >> The picture is not clear, right? There are many unknown factors. >> You don't even know when the war will end, or how it will end, or what uncertainties will remain. For example, will oil drop sharply to 70, or will it stay at 90, or how will it go? Can anyone answer that now? >> Therefore, the picture of defining risk is not clear, right, Khun Moo? What risks are there? But Khun Moo, with so much uncertainty, so much not knowing what the future will be, can we classify that as a risk? Or is it? Khun Moo, why don't people buy gold with high uncertainty? >> Ah, the next question, the question I will answer next, is that I have answered the first question. Gold and oil, gold and inflation. >> Yes. >> Right? Why is it? And the central bank, I have answered all these questions. >> Yes. >> Now I will answer the question you asked. >> Gold and what, just now you asked? >> Uncertainty. >> Ah, gold as a safe haven, something like that. >> Yes. >> Is it still like that? Uh, right? Ah, so back to today, there is a lot of uncertainty, but that uncertainty has no clear direction. Risk with a clear direction is one thing. For example, suppose, let's assume, the Iraq war against the US. Do you think there was a risk with a clear direction? This question is important. Who will definitely win? The US, it's just a matter of time. >> Yes. >> This means the direction is clear, but the timeframe is just waiting. But today, are you sure about that? You don't know, right? You don't know. Have you seen them try to open a new channel and fail? So it's a tug-of-war like this, right? Ah, so it turns out that what used to have risk in one direction, one-way direction, let's say. >> Today it's not. It's multi-directional. You don't know left or right, and there are 3-4 parties involved. So it comes back to this: even if you know that gold used to function as a safe haven against risk that was single, at most dual-directional risk. But today it's not, it's >> 4-way, 5-way, I don't know. And it's a 4-wheel drive too. Each one is driving itself. Ah, right? >> Because the GCC will do this, then what, I don't know. It's all chaotic. Do you know why? Because today we are at a very important point in world history. If this event passes in any way, you will be able to point out that the world has entered a multi-polar era completely. Oil will be permanently restructured. How much will the dollar weaken? The dollar will not collapse, but it will weaken to what extent. How much US power will remain? It will answer all these questions in this war. >> But since this war is not over yet. >> Now, while it's in this state of uncertainty every day, it's not just about negotiations and then, okay, it can only stay on the table, right? No, there are many things intertwined there. Ah, or even think about it from another perspective. Can Pakistan rise to compete with India? You see, there are many dimensions. I'll give another example. Therefore, coming back to buying gold, hey, wait. What risk are you talking about? Inflation? Eh, will inflation rise or fall? Eh, returns? Eh, will returns rise or fall? Interest rates, where will they go? Eh. >> Yes. >> What else? Geopolitics? Eh, will the US end well, or not so well? Eh, how? No one can answer you now. Because the US is trying its best. >> Our goal is to take this channel to 1 million subscribers. Please press Subscribe. We now have YouTube Membership. 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