Haven’t we all wished to have the “leading edge” on an asset we have been considering?
Well, here it is.
To say that a director of any business or organization “knows their stuff” would be an understatement. So when Ed Moy, former US Mint Director, recently voiced his insight into the precious metals market, we listened.
We are all probably familiar with gold’s performance over the past few months and its record highs set in 2020.
According to Moy, “Short term, there’s a lot of factors that are causing some push and pull, which has kept gold trading within a very tight range. But from my perspective, I think the fundamentals for rising gold prices are very strong over the next year.”
“I expect gold prices to eventually break out and head to new records sometime in the next year or two.” Stated Moy in a recent S&P Global interview.
With COVID-19 vaccines in distribution, many are under the impression that we are in the clear and that our economy is headed straight towards a full recovery.
Unfortunately, that might not be the case, as there is still a vast amount of uncertainty circulating around the vaccines and new virus mutations.
And how could any of us forget about the money printing press that the Fed has promised to keep running until we are “fully” in the clear?
Let’s not forget that inflation is not always an immediate reaction to the Fed’s actions.
“I think that until it becomes certain how the economy will recover and that the recovery will be slow enough to manage inflation, gold prices are going to go up.” Adding that… “I won’t be surprised if we hit new highs,” Ed said.
With a closer look and dissection of this comment, and with the understanding, again, that we are essentially nowhere near the “finish line,” gold may truly be consolidating, getting ready for a push back up past its all-time high set just months ago.
Even though other alternative assets have been producing eye-catching yet speculative gains lately, the volatility attached to them is yet another reason as to why gold may be the best play available- a safe haven against volatile markets.
The direction that our economy is headed in the near future is uncertain for everyone.
Call American Hartford Gold at 800-462-0071, where you can buy trusted assets like gold and silver today.