High Inflation Rates or Recession Analyst Says Gold’s Got You Covered Either WayHigh Inflation Rates or Recession: Analyst Says Gold’s Got You Covered Either Way
Gold has been rising as investors have been fleeing from other assets to seek safety. The spot gold price, determined by the live trading of gold futures and options, has risen about 4% this month. The rising spot price is due to a few factors, including the Federal Reserve’s recent decision to raise interest rates and increasing global political tensions.
In light of the current market conditions, many investors are turning to a physical metals IRA to protect their wealth. Metals like gold, silver, palladium, and platinum tend not to lose value during periods of high inflation or economic recession like many other types of investments can. And because the spot price for gold and silver is constantly changing based on supply and demand, investors can buy or sell them at any time they please.
The Federal Reserve Bank president recently gave a speech in which he expressed his concerns about the “disastrous” effects of increasing interest rates. He worries that if the Fed continues with its planned interest rate hikes, there could be negative consequences, such as a recession. Some observers have raised similar concerns and say that the Fed is overlooking potential problems. However, others believe we are overdue for an interest rate increase to catch runaway inflation.
Gold and silver IRAs have long been seen as safe-haven assets during times of economic uncertainty. And with the recent announcement by the Federal Reserve to move back to lower interest rates, many analysts are predicting that we could see an increase in inflation or even a recession.
A gold or silver IRA is likely to do well in either case.
Peter Boockvar, chief investment officer at Bleakley Advisory Group, is bullish on both metals and believes they will perform well in either scenario. He cites the potential for higher prices due to inflation as well as the fact that investors tend to flock to these assets during times of recession. Gold Hill Retreat believes that Boockvar’s outlook is sound, and precious metals make a strong personal finance hedge against volatility in the market and can protect your retirement from inflation.
Peter Boockvar: Current Uncertainty Underscores “My Bullishness on Gold and Silver”
The Chief Investment Officer at Bleakley Advisory Group, Peter Boockvar, recently stated that he is bullish on gold and silver because of current uncertainty. He believes that either the Federal Reserve will tighten too much and growth will slow, or they still won’t tighten enough, leading to an increase in inflation. The price of gold and silver have strengthened when the Fed has tried to hike rates in the past, and investors’ confidence began to wane when the Federal Funds rate was approaching 2.5%.
The economy is still fragile despite a period of relative stability from 2018 to 2019. The price of gold and silver has been on a steady climb since the Federal Reserve announced it would return to lower interest rates. Boockvar explicitly cites oil price, which has been on an upward trend recently, as a key indicator for the movement of gold and silver prices. Gold and silver are safe-haven assets that would rise in both a recession or high inflation, making them good hedges against economic uncertainty.
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