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Own Gold, Protect Your Wealth!

by Chirag Sharma
Own Gold, Protect Your Wealth!

The build-up being seen in the big gold ETFs around the world is the contrary indicator to what has been happening in the precious metals futures markets. The biggest gold ETF, SPDR Gold Shares (GLD) in the U.S this year added 73.45 tonnes bringing its total gold holding to 968.75 tonnes, the biggest amount of gold held in the ETF since August 2016 worth nearly $50 billion. 

Global virus infection numbers, and deaths, will continue to rise. The world’s most dominant economy, the U.S., is probably still at a relatively early stage in the virus spread. The dollar’s purchasing power could be eroded, although its parity against other currencies, which will see a similar drop in purchasing power, may well be maintained. But a decline in the value of the dollar will see a consequential rise in the gold price, which will only really serve to protect wealth. 

https://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/why-buying-gold-suddenly-hard/

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