This week we recap the price surge in gold as it pushed up to $2060 Thursday morning amid further fears of bank failures and stock declines. The Fed raised rates again, which pushed equities further into the red. Is $2,000 becoming the new support for gold, and are the precious metals entering their next stage of the bull market? Thanks for listening if you enjoy be sure to subscribe to our YouTube channel for weekly precious metals price updates and geopolitical commentary.

Last Week’s Golden Rule Radio: Summer Recession? Gold, Silver, & Dollar Market Update

Last Week’s McAlvany Commentary: Housing Hits Record Unaffordability

► Connect With Us

► Like us on Facebook:
► Follow us on Twitter: …(read more)

LEARN MORE ABOUT: Bank Failures

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Gold Rockets Up Near All-Time Highs As Bank Failures Continue

In the midst of unprecedented economic uncertainty, gold has emerged as a safe haven for investors, surging near all-time highs. As the global financial landscape continues to be marred by bank failures, the precious metal has regained its allure, shining bright as a beacon of stability in troubled times.

The ongoing COVID-19 pandemic has wreaked havoc on economies worldwide, leading to massive job losses, business closures, and a general sense of panic. This uncertainty has further exacerbated the fragility of the banking sector, with many financial institutions struggling to survive.

In recent months, several high-profile bank failures have shocked the global markets, leaving investors and depositors in a state of panic. The recent collapse of Wirecard, a German fintech firm, sent shockwaves through the industry, exposing scandals and fraudulent practices within the banking system. This event followed the failure of banks like Lehman Brothers in 2008 and the more recent issues faced by Italy’s banking institutions.

Amidst this turmoil, gold has emerged as a reliable store of value for investors. The precious metal has a long-standing history as a safe haven asset, often sought after during times of economic uncertainty. Its limited supply and intrinsic value have made it a favorite among investors looking to protect their wealth.

The price of gold hit a record high of $2,075 per ounce in August 2020, nearing the all-time high reached in 2011. This surge in price reflects the growing demand for the precious metal and the dwindling confidence in traditional financial systems.

Gold’s rise can also be attributed to the actions of central banks around the world. In their response to the economic crisis caused by the pandemic, central banks have flooded markets with unprecedented amounts of liquidity through aggressive monetary easing measures. This increase in money supply has raised concerns about inflation, further driving demand for gold as a hedge against currency devaluation.

Investors have flocked to gold-backed exchange-traded funds (ETFs) in record numbers. These funds allow investors to gain exposure to gold prices without physically owning the metal. According to data from the World Gold Council, global gold-backed ETFs added 1,000 tons of gold to their holdings in the first half of 2020, surpassing the total increase for any previous full year.

As the financial system continues to experience instability and bank failures become more commonplace, gold is likely to maintain its appeal. Its time-tested status as a safe haven asset makes it an attractive option for investors seeking stability and protection from market volatility.

However, it is essential to remember that investing in gold carries its own risks. The price of gold can be volatile, and market sentiment can quickly shift. Moreover, the value of gold is influenced by various factors, including political events, economic indicators, and currency fluctuations.

In conclusion, the recent surge in gold prices near all-time highs reflects the growing concerns over bank failures and economic uncertainty. Gold’s historic role as a safe haven asset has regained prominence during these challenging times. While it may offer stability and protection, investors must remain vigilant and mindful of the risks associated with investing in this precious metal.