How to Benefit From Gold’s Latest Rally

Nov 7, 2023

I'm Coy Wells for U.S. Money Reserve. According to the Financial Times, gold prices rallied as much as 10% in October of 2023, reaching a five month high of $1,996 per ounce. There are several factors potentially influencing this rally, areas that you may want to pay attention to. One significant driver of this rally has been global uncertainty. Conflict in the Middle East has, in part, driven many consumers towards gold because of the precious metals historical role as a safe haven asset.

Ed Moya, senior market analyst of foreign exchange corporation, Oanda, highlighted international events that drew consumers towards gold. He told Bloomberg reporters, “gold price are rising as a new geopolitical risk has consumers scrambling for safe havens on a day the U.S. bond market is closed.” Concerned about conflict escalations have also added to the precious metal's appeal. The fact is that gold has performed well against bonds and stocks.

When gold prices began their surge, treasury bonds were in a bear market. One that a Bank of America analyst referred to as the greatest bear market of all time. Stocks, meanwhile, suffered a series of losses that erased all the gains the S&P 500 had made so far in 2023 by early October.

According to analysis published by MarketWatch on October 18th, gold has officially outperformed the S&P 500 so far in 2023. On October 17th, 2023. JPMorgan's chief market strategist recommended that consumers cut equities and bonds and instead allocate a portion of their portfolios to gold, highlighting the precious metals ability to act as a hedge from expansive equity valuations, persistent geopolitical risk and restrictive interest rates.

Physical gold has long been considered a safe haven asset for its ability to serve as a store of wealth in times of both volatility and uncertainty. To learn more about the benefits of owning physical gold and to receive your free gold Information kit, call U.S. Money Reserve and speak to one of our dedicated account executives today.


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