This year has been a good one for gold. Even though it dipped slightly on the news of a trade deal between Washington and Beijing, it continues to prove itself as a real currency an holdable asset.
In a world full of fiat currencies that are rapidly losing value in the face of a burgeoning national debt, gold and other precious metals have become as stable as a rock and this is likely to continue for the remainder of the year.
Political and economic instability favor gold. Economic weakness tends to enhance and destabilize anti-globalization nationalistic political forces around the world; gold is a refuge from economic and political instability.
As the national debt rises and dollar loses purchasing power and inflation becomes overtly obvious, gold is stable. It’s a protection against all of that. An ounce of gold will buy today what an ounce of gold would buy in 1905. The same cannot be said for the fiat currency, the dollar. Over the past 50 years, investors have seen gold prices soar and the stock market plunge during high-inflation years. This is because when fiat currency loses its purchasing power to inflation, gold tends to be priced in those currency units and thus tends to rise along with everything else.
Gold can also be thought of as an insurance policy against a dollar collapse. Based on the current economic data, that is something that could be coming down the pipes. Because gold is the metal we tend to fall back on as fiat currencies fail, it will always have value. We all want to protect ourselves and our wealth from worthless dollars, and precious metals will continue to act as our insurance.
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Gold is also experiencing the most basic of economic laws. The supply of gold, such as mine production and how much of it central banks are willing to sell for fiat currency is dwindling, while at the same time, demand is increasing. The ever-present law of supply and demand applies to all things equally, and it’s incredibly difficult, if not impossible, for governments to squash it – regardless of how hard they try.
Adding gold to your portfolio also diversifies your assets. By doing so, you’re better protected against an economic crash, a dollar collapse, hyperinflation from money printing, and the disastrous easy money policies of the past few decades.
For all these reasons, I think gold is going to be a must-buy for the remainder of the year. Invest in mining stocks or buy bullion that you can hold in your hand if you’d like – maybe do both! Either way you’re bound to be secure when the dollar collapses under the weight of the national debt and inflation reaches ridiculous levels and impoverishes the masses.
Gold’s buying power will remain through any disaster scenario. The turmoil will continue as politicians will attempt to continue to manipulate a dying economy and boost their fiat currencies. Don’t get caught in the middle! Grab some gold and insure your wealth against government and central bank disfunction.
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Legal Notice: This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.