Why do mainly Chinese investors buy gold before a big rise in gold prices, such as Chinese aunties and young people? I've never heard of American aunties rushing to buy gold? We can see the American attitude towards gold from Buffett's argument. Buffett says gold is worthless because it doesn't bring any returns. He doesn't understand why anyone would buy gold; if you have money, you should invest in stocks. At the same time, most Americans are living paycheck to paycheck, and ordinary Americans, like those in the U.S., are struggling to pay off debts every month, so of course, they don't have extra money to buy 'useless' gold.

Buffett's argument is completely wrong. He doesn't know that the borrowing interest on gold has reached 4%, and he conveniently avoids mentioning the issue of currency devaluation and excessive printing. If you take inflation out of Buffett's investments, they basically don't make much money. Ordinary Americans trading stocks, if they don't buy tech blue chips, will still lose money.

At the same time, Western people are used to being lazy and have little financial awareness. On the other hand, people in Japan and South Korea will line up to sell their gold and silver as soon as the price rises a bit. They sell everything and now there's not much left.