The Best Gold Stock
Bitcoin is sometimes called “digital gold”, but investors should also have some of the real stuff. As J.P. Morgan put it, “Gold is money. Everything else is credit.”
Gold’s price per ounce is still some way off its inflation-adjusted all-time high reached in 1980 but gold was up 15% in 2023 and is up again in 2024. The drivers of gold prices are debatable but here are a few that could be behind the trend.
A challenging geo-political environment from Ukraine to China is prompting many, global central banks, to add gold to hedge risk.
Chinese investors are buying gold as its property and stock markets slump. Interest rates are expected to head down which generally leads to higher gold prices. Trading activity is also quite active and on the COMEX exchange platform, outstanding gold contracts spiked 30% since late February.
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