This Week's Touchpoint
Weekly Touchpoint: Interest in Gold Investment Surges Worldwide
Posted By | November 28, 2018
Precious Metals Counter Dark Economic Outlook
Gold sometimes has been dismissed as “outdated” or “obsolete” in recent years, but plenty of people certainly are working very hard right now to accumulate it. Each has their own reasons for taking a renewed “shine” to the metal, but the common denominator binding them is this exciting quality of gold: It remains one of the only genuine stores of value left in the world.
- CNBC reports SPDR Gold, the world’s largest gold exchange-traded fund (ETF), has seen an inflow of more than $600 million in the past month. Given that nearly $3 billion has moved out of SPDR GLD year-to-date, the sudden reversal is a strong sign astute investors see the writing on the wall as far as the economy and markets are concerned. Although physical gold is the form of the metal offering the lowest correlation to stocks, the jump in popularity of SPDR GLD is noteworthy to all gold investors.
- Some investors are looking to gold to help protect their portfolios. And some are frantically searching for gold any way they can in a simple effort to survive. Such is the case in economically ravaged Venezuela, where, according to SafeHaven.com, citizens have turned to illegal gold mining in a desperate attempt to fight back against national calamities such as hyperinflation and food or medicine shortages.
- Perpetual U.S. nemesis Iran decided gold may be the key to getting out from underneath Uncle Sam’s economic-sanctions “thumb.” According to PressTV.com, Iran is moving to “revitalize” six gold and copper mines as a way to insulate itself against the effects of U.S. sanctions. The effort is part of Ayatollah Seyyed Ali Khamenei’s plan to build a “resistive economy” characterized by economic self-reliance and less vulnerability to external sanction pressures.
- Doug Casey, author of the legendary bestseller Crisis Investing, took the recent uptick in interest in gold as an opportunity to remind us just why gold is money. Actually, Casey details Aristotle’s five reasons gold is indeed money as noted in the fourth century BCE. Casey cites two of those characteristics of “good money:” durability and divisibility. To find out the other three, check this article at his proprietary website, Casey Research.
Even today, when citizens, investors and entire nations want to protect themselves from forces of economic distress, they turn to gold. If you don’t have gold as a component of your portfolio, perhaps it’s time to take a cue from so many others and begin accumulating it for yourself. Worried about your financial future? Need help learning about precious metals ownership and have questions about the way it works? Call Augusta Precious Metals today at 855-242-4121 or visit Augustapreciousmetals.com.
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