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I don’t usually channel surf, but when my wife and I were on vacation in Europe last year, we ended up taking a look at what was available on TV in the hotel. After catching up on the news, a show called Yukon Gold caught our attention. To be honest, we had no idea what the show was about, but the voice over pretty much explained it all. Gold miners in Canada’s Yukon hoping to strike it rich.
To be honest, if I were at home, it’s unlikely I would have stayed tuned. However, whenever I travel abroad, I tend to pay more attention to Canadian shows. Here’s the thing though, the show had me hooked. What was really interesting to me was the fact this was a group of normal people who were working hard to provide for their families.
If you haven’t checked out Yukon Gold, you can catch it Wednesdays at 10 pm EST on HISTORY Canada. To get you excited about the current season, I partnered with HISTORY Canada and Yukon Gold to answer some questions you may have about gold.
These guys are incredibly hard workers. PJ worked in the Alberta oil fields before deciding he wanted to be his own boss and headed to the Yukon to open his own mine. Already a successful venture capitalist, and semi-professional poker player, Andy said yes when his childhood friend PJ called him to see if he wanted to invest.
What I loved about these two guys is their passion for gold. Yes, gold is valuable, but it’s not just about the payday. It was clear that this was a passion for them and they love it whenever they’re “working.” Not everyone can say they feel the same way about their jobs.
Does gold make sense as an investment?
This is a bit of a loaded question since gold is technically not an investment. Gold doesn’t produce more gold, nor does it pay dividends. When you purchase gold, you’re speculating on its price, hoping that it goes up in the future so you can make a profit.
Of course, as I say this, an ounce of gold is trading at over $1,200 USD, so maybe I don’t know what I’m talking about. That being said, gold is still a commodity that only has value if someone else is willing to pay for it.
Sure, if the world were to end tomorrow, gold would probably be very valuable. This is one of the main reasons why gold tends to go up when stock markets are down or when people are concerned about the state of the world.
There’s nothing wrong with investing in gold, I just wouldn’t recommend it be a big part of your portfolio.
Family values matters
Yukon Gold may not sound like a show that you can relate to, but you’ll quickly realize that you understand the emotions that the cast goes through. Like everyone else, PJ, Andy, Chris, Nika, and the rest of the crew are just trying to provide for their families. Since this is a reality tv show, we see the struggles that they deal with which may make some of our daily complaints seem meaningless.
Then there’s the emotional factor. Big Al returns this season after taking two years off to battle cancer. I don’t think there’s a single person out there who doesn’t know someone who’s been affected by cancer, so we can all relate in some way.
These guys are also all entrepreneurs. They’re pouring everything into their work, but one small misstep can set them back thousands of dollars and wreck havoc on their family life. Don’t we all know what it’s like to be in tough situations?
Although I don’t think gold makes sense as an investment, I find myself relating to the triumphs and struggles the cast deals with. Check out Yukon Gold, Wednesdays at 10 pm EST on HISTORY.