Will It Pay To Invest in Gold in 2023?
Gold has always been a prudent investment vehicle for investors for centuries. The precious metal helps protect the currency’s value from hyperinflation and safeguards the person’s generational wealth. If you are new to investing and wondering if you missed the opportunity to invest in gold, this post is for you. Read about the factors that will continue to ensure gold remains high in demand in 2023.
Economic Uncertainty Continues
The past couple of years has been very volatile, with global economies and businesses still recovering from the Covid-19 pandemic. Major supply chain disruptions caused price hikes across a wide spectrum of products and services. This caused business confidence to plummet, and stock markets responded negatively. Retirees lost out on trillions of dollars in the previous months of 2022. In the face of so many uncertainties, gold is predicted to continue to retain its charm in 2023.
As the world was still reeling from a pandemic, the Russian invasion of Ukraine worsened the situation. It created a lot of uncertainty, with World War 3 trending on Twitter. With 2022 coming to a close, there is still no end in sight to the conflict, and global supply chains remain disturbed. From destroyed grain belts in Ukraine to gas shortages in Europe, these all push the cost of living higher.
Moreover, geopolitical analysts often point to other flashpoints emerging worldwide that can aggravate the situation. This will continue to reduce the appetite for volatile assets such as stocks, crypto, and bonds and motivate them to keep purchasing gold in the foreseeable future.
Work with an Experienced Gold and Silver Investment Company
Searching for a precious metals exchange that has your best interests at heart? At Orion Metal Exchange, we provide certified precious metals such as gold, silver, platinum, and palladium of the highest quality. Our in-house IRA department makes the process of opening precious metals IRA accounts very easy so that you can safeguard your retirement nest egg.