As of October 31, 2023, gold prices have outperformed stock prices in 2023. According to CNBC, the spot price of gold had grown 9.4% in 2023 while the S&P 500 had only grown 8.5%.
“[Thomas DiFazio, director of investment and technical macro strategy at Strategas] said that gold’s strong performance compared to banks — known as the “paper vs. rock” relationship — can signal [consumers] are increasingly defensive and favor the precious metal over more risk-oriented assets.”—CNBC, October 31, 2023
Why has gold performed so well while other assets have struggled?
Watch the video below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- MarketWatch: “Gold is officially outperforming stocks in 2023 as October rally continues”
- CNBC: “Gold is testing the key $2,000 level. Why analysts are bullish and where they think it can go next”
- Reuters: “Gold steady near $2,000/oz. mark after soft U.S. jobs data”
Protect your portfolio with precious metals today.
Gold has historically been used as a hedge against economic uncertainty and market turbulence. As paper-based assets like stocks continue to experience volatility and inflation continues to deflate the dollar’s purchasing power, now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied.