Gold just pushed through all-time highs, again. Silver is up 30% in 2024. Is it too expensive to buy gold or silver? Have you missed the boat? Is there still enough time?
The short answer is YES - it's always good time to trade in your useless fiat toilet paper currency for real money - gold and silver. The longer answer is also YES and let me briefly share my opinions as to why.
It's largely about the health of the economy, interest rates, and money flows.
Many people invest in the stock market hoping to make money on their investment, and many invest in tech and other risky stocks. With many economies, including Canada and the U.S., stumbling and with rising and high interest rates compared to just a few years ago, we've likely been in a recession for several months. Lately, we have started to see the rate at which interest rates are slowing and, in some cases like Canada, have decreased and are likely to continue for a period of time. When rates increase, this usually is a result of a "hot" economy and central banks use interest rates to temper the rate of growth to keep inflation in check. When interest rates decrease, this usually means that the economy isn't doing well and central banks use rates to stimulate growth by lowering interest rates along with printing more money - which is inflationary!
It is during the latter environment when precious metals - physical gold and silver - perform the best. In a declining interest rate environment, there are typically massive money flows away from traditional stock investments such as bonds and tech companies into precious metals, including gold and silver mining companies. All of this put upwards price pressure on gold and silver which we've seen over the past few months with gold hitting an all-time high earlier this year. Plus in today's environment with massive government debt, there is lower confidence in the dollar and investors are looking for safer options - gold and silver.
Is now a gold time to be buying gold and silver? I'd argue that it's never been better.
It's never a bad idea to increase your financial independence and privacy, protect your purchasing power, and build wealth using physical gold and silver.
🌟 What do you think?
Do you prefer gold or silver these days?
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