Cuban entrepreneur and social media influencer Carlos Marcelín, famous for his engaging videos showcasing luxury watch and jewelry deals at his Miami store, CRM Jewelers, recently captivated his followers with a remarkable investment tale.
In a recent Instagram post, Carlos shares a visit from Alan, a well-known jeweler from Downtown Miami and a personal friend. Alan arrived with an intriguing offer: to sell a three-kilogram gold bar.
Alan revealed that he had purchased the gold bar seven years ago for $150,000, back when the price of the precious metal was significantly lower.
“This is three kilograms of 24-karat gold,” Alan explained. “Its value today is $396,000. I want to sell it because I believe the price might drop in the coming months,” he stated.
Carlos, however, was doubtful about this prediction. “Whether it drops or not, I am certain of one thing: I’d rather keep gold in the safe than hold onto paper,” the Cuban businessman asserted, underscoring his confidence in gold's enduring value as a financial safe haven.
The two ultimately agreed to finalize the deal for the 3.074 kg gold bar at a final price of $400,000.
What do you think? Do you believe the price of gold might decrease, or will it stay high? Would you sell the gold now, or hold onto it expecting further appreciation?
Gold Investment Insights
Why does Carlos prefer gold over cash?
Carlos sees gold as a more secure investment than paper money, believing it offers a stable refuge for his financial assets.
What was the original purchase price of the gold bar?
Alan originally bought the gold bar for $150,000 seven years ago.
How much did the value of the gold bar increase?
The gold bar's value increased to $396,000, more than doubling over the years.