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Gold $1249.9 -0.5
Silver $14.69 0.02
Talk to a representative: 855-242-4121


This Week's Touchpoint

Weekly Touchpoint: Russia and China Boosting Financial Security with Gold Stockpiling

Gold price downturn offers buying opportunity for investors.

In the current climate of economic uncertainty, more nations are relying on gold to see them through whatever chaos may be coming. Last week, we mentioned that Germany repatriated nearly 600 tons of gold from the Federal Reserve. Now comes word that Russia and China remain as aggressive as ever in their efforts to compile giant mountains of yellow metal.

• Personal financial advisors still tend to be dismissive of gold, but entire countries continue to embrace it in an apparent effort to help buttress their financial stability. An article by Tom Lewis at The Gold Telegraph chronicles the recent surge in gold accumulation by Russia and China in particular. Lewis points out, with concern mounting over the stability of global currencies and the growing fear that a sizable trade war is brewing, “those countries and investors with the most gold will best survive the turmoil.”

Peak Prosperity’s Adam Taggart says gold and silver’s recent price downturns have created an ideal buying opportunity for investors. Taggart’s enthusiasm for the metals right now is based on both technical and fundamental indicators. Technically, both gold and silver are “extremely oversold,” according to Taggart. Fundamentally, he says, the global economic climate is very positive for precious metals in the near term.

• A few of the mainstream financial publications actually “get it” when it comes to gold. While many won’t discuss gold as a viable asset option – despite the metal’s strong historical record as an inflation-fighter – Kiplinger makes a strong case for gold as one of its “6 Ways to Beat Rising Interest Rates.” It is a brief – but solid – read about the virtues of gold from a publication almost always devoted to traditional asset investing.

• Worried about gold’s current price weakness? Don’t be. Gold-friendly conditions such as higher inflation and overt trade conflict are in play, but so are a number of other factors very much at odds with gold, including a stronger dollar. Gold is moving in response to present influences as it always has, which is precisely what you want to see. For more on why you should have no issue with gold’s recent price action, read the latest blog article from Augusta Precious Metals.

There’s no denying the growing interest in gold on the part of governments throughout the world. Even several of cryptocurrency’s new initial coin offerings are backed by gold. If so many with so much to lose see gold as the ultimate financial backstop, perhaps you should as well. For more information on the ways physical gold and silver can help keep your financial house secure, call Augusta Precious Metals today at 855-242-4121 or visit us online at Augustapreciousmetals.com.

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.