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The coronavirus now appears uncontainable. Fears are mounting that the fallout could trigger worldwide recession. However, the coronavirus is just one of many factors that have darkened the global economic picture. The combined economic stressors have prompted many financial institutions to increasingly move away from risk assets and enthusiastically into gold. They know that gold, throughout history, has responded to financial crises by rallying. You could say, at this moment in history, that central banks, asset managers and leading commercial financial institutions have an affection for gold that is as uncontainable as the coronavirus. Just last week, analysts at megabank Citi projected a 25% increase in gold in as soon as 12 months. The bank is one institution that believes 2,000-dollar-an-ounce gold could become a reality in 2020. This week’s Touchpoint begins with more on their gold outlook.
- Against the backdrop of recent crisis events such as heightened Middle East tension and the coronavirus outbreak, many are viewing gold with tremendous optimism. Last week, analysts at megabank Citi projected gold would reach 2,000-dollars-per-ounce in the next 12 to 24 months. In the opinion of lead analyst Aakash Doshi, gold looks to be the beneficiary of an array of possible disruptions to the global economic order. These include uncertainties over the current business cycle, the trade war, and this year’s U.S. presidential election. Doshi also sees the ongoing coronavirus drama as bullish for gold. CNBC has more.
- Financial markets are weakening and gold is surging on growing fears the coronavirus may be unstoppable. Last week, gold reached a seven-year high fueled by worrisome news about the outbreak. The Director-General of the World Health Organization, Dr. Tedros Adhanom Ghebreyesus, says we could be looking at a full-blown global pandemic shortly. Citing new cases in Iran and Lebanon, Dr. Tedros suggested in a Friday press conference that the world is now officially at a “tipping point.” He added that “the window of opportunity” to contain the virus and avoid a truly dangerous global health crisis is closing quickly. For more, click over to ZeroHedge.
- Precious metals are unique in part because they’re both a potentially profitable savings asset and a prized medium of exchange. According to SRSrocco Report’s Steve St. Angelo, gold and silver’s value as a medium of exchange is driving demand for them right now. St. Angelo’s sources tell him people want transaction-friendly denominations of gold and silver. The reason? They fear the coronavirus outbreak eventually could harm the global supply chain and they may need to trade gold and silver for goods. Last week, as coronavirus news worsened, gold vaulted 3% and silver jumped a whopping 4.5%. In St. Angelo’s view, there’s more behind those surges than interest in portfolio protection. He believes some are positioning themselves to use metals as currency.
- Safeguarding money is what banks do, right? Well, not really. Bank’s make a profit by loaning money out. Sitting on cash and guarding it is not in their best interests. To make matters worse for depositors, technological evolution means money in banks is reduced now to a digital asset. As a result, your savings is at risk from a wide variety of tech-based threats. These range from application of extreme monetary policy measures to catastrophic failure of the financial system from cyberattack. The easier technology makes it for you to access your money, the easier it is for unwanted intruders to access it, too. Physical gold and silver could be the best assets to ensure physical security of your money. To learn more, read the latest blog article from Augusta Precious Metals.
No one likes news suggesting the economy could be in real trouble. When the news breaks, though, a savvy, mature retirement saver doesn’t ignore it and hope it will go away. Instead, he or she addresses the threats head on. One of the most effective steps is making certain a portfolio contains safe haven assets such as physical precious metals. Are you a savvy retirement saver who doesn’t yet have any gold or silver in your portfolio? If so, it’s time to call Augusta Precious Metals at 800-700-1008 or visit Augustapreciousmetals.com.
Uncontainable Coronavirus is One of Many Obstacles for the Economy
If you have at least 100,000 dollars saved for retirement, ask about Augusta’s exclusive Profit & Protect Web Conference. This live webinar, hosted by Augusta’s lead economic analyst Devlyn Steele, demonstrates why it’s so hard for “regular” retirement savers to reach their long-term goals. Mr. Steele is a 36-year veteran of economic analysis and a member of the Harvard Business School. He’s also one of the very few who predicted both the 2008 financial crisis and the remarkable precious metals surge that followed.
During this web conference, you’ll learn how the “system” created by America’s financial and political elite assures few will ever achieve genuine retirement success. This information-packed presentation does more than just detail problems, however. Mr. Steele also shows you how adding precious metals to your portfolio can help you beat that “system” and reach your dreams of financial independence.
Now’s not the time to hesitate. Contact Augusta today to learn more.