Gold is making a comeback!
Well, “Yes” wouldn’t be an overstatement according to recent telltale signs we’ve seen from the asset.
But its climb up the ladder won’t be a stroll in the park. Still, market analysts predict an increase in value beyond 2013’s record-holding $1,822. And they are not mad! Only, it won’t be a pushover as news sources present it to you.
According to one post by Tom Stevenson of Telegraph, Gold’s comeback won’t be easy in a low income and zero-interest rate ecosystem. He also cautions that the yellow metal’s good performance may hang on a thread if the US Dollar gets stronger.
But the analyst maintains that all investors must stock some yellow metal at this time of tragedy. According to him, Gold is liability-free, which is why it weathers all economic environments. Plus, unlike other precious metals, it isn’t a raw material for various roles so it can hold the fort for you during crises like Coronavirus.
And that has been the case since time immemorial, Gold has survived all storms for 5,000 years.
Meanwhile, Bullion Vault, a famous web-based platform for precious metals reports an increase in the number of customers purchasing physical gold on its online market. The count doubled in a month, between Feb and March.
Stevenson links the March increase in gold sales to the current economic disruption the world is going through.
But gold, like other commodities is feeling the heat of coronavirus. Supply chains are a mess— and such delays are obviously taking a toll on its price.
One of the largest refineries (the Swiss) has shut down “for the first time in 100 years” after its neighboring areas reported cases of COVID-19.
Gold is still the best pick if you want to take a calculated risk in a volatile economic ecosystem. Still, invest wisely, if you choose to buy gold. Don’t put all your eggs in one basket.
Author Bio: Blair Thomas has been a music producer, bouncer, Screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books while helping retailers to set up credit card processing for Precious Metals.