Gold Price Boosted by Inflation Concerns
Cyclical commodities like silver and gold are seeing price surges with recent Federal Reserve comments about raising interest rates due to an “overheating economy”. A dollar bear market along with equity volatility are seen as the catalysts for silver being on pace to have a record year with gold following close behind. The fundamentals are strong and Gold ETFs are seeing a lot of incoming investments.
While gold ETFs are the preferred choices of holding gold for the Western world, physical gold demand remains high in Asia and other parts of the world. This is why holding a Gold IRA is so important as you can get the benefits of holding gold and the inherent tax benefits along with having a custodian store the gold for you until you’d like to take delivery.
Bitcoin is also seeing a recent uptick from its most recent lows where it touched off of the $6,000 price point, and now sits about $10,000 per BTC. Cryptocurrency and physical precious metals remain the last few vestiges of monetary freedom away from the fiat currency system.