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Gold rallying to new highs!

by Rachel MillsApril 2, 2024

What’s really behind it? What does it mean for you?

Gold spot prices have been off to the races lately, climbing to new all time highs every week in March and starting off the month of April north of $2250! Much of this demand is still driven by central banks, but retail investors are finally starting to get the memo. They've been to the stores. They've seen the inflation first hand. They are watching the news. They see nothing good happening and they are sensibly diversifying accordingly.

The mainstream financial news will tell you inflation data is cooling. Does it feel like it is cooling to you? Ask who ever does the grocery shopping in your house how prices look to them. Does inflation seem more accurately represented by the Bureau of Labor and Statistics numbers? (A detailed look at how inflation calculations have changed is here) Or by this site showing 24% inflation over the last 4 years and sustaining?

The truth is the economy is struggling and slowing under a dysfunctional dollar. Many are speculating this will force a reluctant Fed into a rate cut in June. Is that expectation driving investors to pile into gold? Either because of lower opportunity costs for gold or because a rate cut will just be more inflationary?

Or are investors looking at all the alarm bells sounding about our exploding and unmanageable debt levels? Currently, it only takes 100 days for our debt to jump another $1 trillion.

There are all kinds of reasons Americans are piling into precious metals. By embracing gold as a hedge against unsustainable debt, inflation and currency depreciation individuals can safeguard their wealth and preserve their purchasing power in the face of unprecedented economic challenges. In a world fraught with uncertainty, gold remains a timeless symbol of wealth and prosperity, offering a tangible refuge in an increasingly digital and uncertain financial landscape. As individuals navigate the complexities of a rapidly evolving global economy, gold represents a steadfast anchor in an ever-changing sea of financial turmoil, forging a more secure and prosperous future for generations to come.

When is the best time for you to buy gold?  5 years ago, when spot prices were around $1280 an ounce, would have been great. But since you don't have a time machine, the next best time might be right now, before prices go even higher.

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