Is Now A Good Time To Invest In Precious Metals?
Amid the current COVID-19 outbreak and upcoming elections, the US economy is in a tough spot. Investors are confounded due to the unprecedented situation in the country.
But gold and silver have historically been regarded as ‘safe havens’ against inflation and economic uncertainty. Does this mean now’s a great time to invest in precious metals? Our economic experts at Orion Metal Exchange think the answer to that question is a big fat YES.
Here’s why you should cash out your savings from the bank and invest in some gorgeous gold and silver coins and bullions:
Falling US dollar
The US economy is going through a rough patch. The dollar has been falling uncontrollably, and economists think the US Fed’s inadequate monetary policies and uncertain conditions are to be blamed for the downfall.
Experts predict a further decrease in dollar prices as the country’s interest rates are expected to near zero in early 2021. While this is terrible news for the country’s overall financial conditions, investors can benefit from the surging gold rates.
Since gold is dollar-denominated, a dip in dollar rates directly influences a surge in gold prices. So if you invest your savings in some gorgeous gold and silver coins right now, you can sell them to get a great return on investment early next year. This is better than your money rotting in the bank, don’t you think?
More uncertain conditions ahead
The year 2020 has taken everyone by surprise. Who would’ve thought an invisible virus could lead to worldwide lockdowns? In these uncertain times, gold is upholding its reputation as a hedge against inflation.
If you assess the fluctuations in the price of gold this year, you’ll see the value of the yellow metal was $1,527 per ounce in January and, after a dramatic increase in 10 months, it now stands at a staggering $1,927 per ounce.
Economic experts predict that gold rates will keep increasing significantly until the advent of an effective COVID-19 vaccine. This means that if you buy gold now, you can sell it at a significant profit soon.
Buy from a top gold IRA company
There are many ways to invest in the precious metal. At Orion Metal Exchange, we have an extensive range of gold and silver coins and bullions at unmatched rates. You can also set up a gold IRA account and invest in your life after retirement. Reach out to us for more information regarding our services.
