Gold prices continue to gain momentum and are even gaining mainstream media coverage. Federal Reserve Chairman Jerome Powell continues to help matters by indicating in his last discourse that the Federal Reserve would continue to do what is necessary to keep propping up the U.S. economy.
In his annual remarks at Jackson Hole last week, Powell said, “We [Federal Reserve] are your backstop and will create whatever liquidity is needed.”
This translates to more quantitative easing (money printing) and the continued decline of interest rates, both of which will only make an artificially growing economy collapse that much worse.
Meanwhile, we’re also seeing new Chinese tariffs, presidential tweets that tear markets down 500 points in moments and home sales falling 12.8% last month.
Who else is seeing the writing on the wall? Gold and silver have responded by achieving highs we haven’t seen in more than five years. Gold’s spot price is currently $1,524 an ounce and silver is knocking at the door of $18 an ounce, currently sitting at $19.
The only thing that’s sure is that we are in turbulent times and in need of a safe-haven asset for our clients’ money. Physical gold and silver are those safe-haven assets. They play an inverse role to quantitative easing, the beginning-to-decline real estate market, and markets that hang on tweets.
Physical gold and silver can protect your clients’ wealth in uncertain times. Just a 10% allocation helps mitigate risk and offers your clients an investment that they can see and feel. Call us today to learn how you can offer this protection to your clients.