Investor kit made up of 3 brochures

Get $500 and your FREE investor kit!

American gold eagle coin Request your FREE Precious Metals Investor Kit and we’ll immediately add $500 to your account to help you get started!

The $500 can be used for shipping, insurance charges or IRA custodial fees

Lear does not provide financial advice and is a for profit retailer.
Skip to main content
Back to Top
Speak to a specialist 800-576-9355

Gold Above $2000

by Rachel MillsMay 11, 2023
Inflation chart

And holding steady…

Last month gold breached the all-important milestone of $2000 and is finding support there.  What is driving these all-time high prices for gold? Several things.

1. Banking crisis  

We’ve experienced a lot of bad news in the banking sector with the collapse of SVB and First Republic and the indications that many other banks are at risk from bad lending decisions. What’s more, it is looking like the expectation of Fed bailouts might not pan out for all these banks.

2. Inflation 

Inflation remains stubbornly above the target rate of 2%. Official CPI still sits at 4.9% but core prices, including food and energy are at 5.5%. Worse, gas prices may be about to take off with the summer driving season upon us driving demand, while the OPEC production cuts are squeezing supply.

3. De-dollarization and geopolitical issues

As the conflict continues in Ukraine, it underlines the unreliability of the US, and the weaponization of the US dollar. Central banks are less buyers of US debt and more buyers of gold to shore up their reserves. This means we are less able to export our inflation, which keeps it here at home. It also drives the price for gold, as central banks buy by the ton, not the ounce.

There are other factors, of course, but these are the big 3 right now. Do you think these issues are going ease? Or get worse in the near future?

If you think these issues are escalating, then even at prices just north of $2000, gold is still in buying territory. Trying to time the market, waiting for a dip, often leads to missed opportunities. The best time to buy is NOW. Later might not be better and the dip you’re looking for may not come.

We can sell you physical gold and silver to keep at home, or we can help you rollover or start a gold backed IRA. Many of our customers do both. Which is right for you?

Secure Your Retirement with Gold

Free 2024 Gold Kit
Gold Kit
Lear does not provide financial advice and is a for profit retailer.
We respect your Privacy