Rick Harrison says this 1 shiny asset has gone ‘absolutely nuts’ because governments are ‘buying it all’ — and printing money ‘like confetti.’ 3 ways to gain exposure to the shockproof metal
With stocks, crypto and numerous other investment options available, who would have thought that gold — a precious metal used in trade for millennia — would be the one going “absolutely nuts” in 2025?
But that’s exactly what’s happening. Gold prices have surged 35% over the past year, recently topping the $2,900 per ounce mark. Rick Harrison, owner of Gold & Silver Pawn Shop in Las Vegas, has noticed the trend firsthand.
“My suppliers are limiting the amount of gold they will sell you because they can’t get any in. I mean, it’s gone absolutely nuts,” Harrison said in an interview with Fox Business.
Harrison, whose dealings at the pawn shop are featured on the popular History series Pawn Stars, believes there’s clear reason behind the surging demand for gold.
“Remember, we live in a world where we’re printing money like confetti, and it’s getting a lot of people concerned,” he noted. “The government’s number one line item now is interest on the debt — it’s $36 trillion. I mean, you’re never going to be able to pay that off. So the only way to pay down the debt is either inflate the money supply or monetize the debt, which causes inflation anyway.”
The U.S. national debt — the total amount of outstanding borrowing by the U.S. federal government — has reached $36.22 trillion as of February 2025. Last year, it made headlines when interest costs on the national debt surpassed spending on defense and Medicare.
This gold rush isn’t limited to the U.S. South Korea has banned sales of gold bars because the government has been buying them, citing supply shortages and surging demand. However, this may not be entirely due to government purchases, as reports indicate that the Bank of Korea has kept its gold reserves steady at 104.4 tonnes since 2013.
But Harrison isn’t entirely off base — the world’s central banks have been stockpiling gold. In 2024, they added 1,045 tonnes to global reserves, marking the third consecutive year of net purchases exceeding 1,000 tonnes, according to the World Gold Council.
That demand could push prices even higher. Goldman Sachs recently raised its year-end 2025 gold price forecast to $3,100 per ounce, citing “structurally higher central bank demand”.
While purchasing gold might be becoming more difficult in some places, adding it to your portfolio is still surprisingly easy. Here are three simple ways to gain exposure.
Harrison acknowledged that people are buying gold today because “it’s a hedge against inflation”.
Unlike fiat currencies, gold can’t be printed at will by central banks, making it a time-tested store of value. One of the most direct ways to invest in gold is by purchasing physical bullion in bars or coins.
These days, you don’t even have to go to a bullion shop — or wait in line at a pawn shop — to buy precious metals. Many online platforms offer a wide selection of gold and silver bars and coins and fair pricing.
Gold-mining companies offer another way to gain exposure to the precious metal. When the price of gold rises, miners enjoy bigger profits, potentially boosting the value of their shares.
Adding gold-mining companies to one’s portfolio can diversify it. However, investors should be mindful that doing so also exposes them to stock market risks and the performance of the underlying companies.
Meanwhile, Exchange-Traded Funds (ETFs) can track gold’s performance, aiming to mirror the price movements of gold by holding physical gold or gold futures contracts.
Individual Retirement Accounts (IRAs) are a popular way to save for retirement, offering tax advantages that can help grow your savings over time.
Traditional IRAs allow you to contribute pre-tax income, with taxes deferred until you withdraw the funds during retirement. On the other hand, Roth IRAs involve contributions made with after-tax dollars, providing tax-free growth and tax-free withdrawals in retirement.
A gold IRA is a specific type of IRA that allows investors to include physical gold and other precious metals as part of their retirement portfolio. If you’re looking to combine gold’s reputation as a store of wealth and safe-haven asset with the tax benefits of an IRA, you may want to consider opening a Gold IRA.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
