Don’t Sell Gold & Silver, Buy More When it Dips’ Says US Millionaire

Juhi Mirza
gold and silver bars
Image Source: Unsplash

Gold’s stellar price rise of the season has taken the global financial markets by storm. The precious yellow metal is gaining worldwide attention due to its stunning price rise, driven by multiple external global factors, notably the war-like situations rife globally.

At a time when equity markets and stocks are projecting a wobbly image, gold has emerged as a lucrative tool of investment to battle the growing economic woes. Indeed, it has been spurred by the changing market dynamics of the world.

Also Read: Gold’s Allure Compels Chinese Investors To “Hodl” The Yellow Metal

Don’t Sell Gold; Hodl It For Now, Says US Millionaire

gold bars
Image Source: Unsplash

Notable US millionaire Jim Rogers, in an interview, has reiterated what the global market dynamics have long been propagating. With gold rising at a meteoric pace, it’s high time that investors pivot towards the precious metal to derive future value and, at the same time, stabilize their returns against the stark market volatility rampant in the space.

Rogers shared how the current stock market scenario is dubious considering the serious global developments that are currently wreaking havoc in the sector.

With war-like situations brewing on a record level, equities and stock markets are particularly sensitive to this change and may attract a potential crash if such factors continue to gain pace.

Rogers shared how insulating one’s assets through investments in gold and silver may prove particularly lucrative at the moment. Dubbed a stable “hedge” against inflation, gold prices have been skyrocketing to newer levels, breaching $2,350.

Per Rogers, the yellow metal may note a consistent price bounce going forward as world markets brace for a bumpy economic meltdown to gnaw at them in the near future.

“I am expecting problems in the equity market to escalate in the coming months. Whenever we have problems in the equity market, many people will turn to gold and silver as protection. I am not selling my gold and silver. If possible, if the rates come down, I will buy more.”

Gold Prices Are Aggressively Rising At A Record High: What’s Happening?

The prices of gold and silver are embracing the bullish wave of the market as the metals continue to breach new price highs. The metals are trading at record levels, rising to $2,354 and $28, respectively.

With the US battling inflating debt metrics and brewing world wars in the background, the economic stance at the moment is particularly favorable for gold. Per Dan Popescu, a notable financial analyst, gold thrives when military tensions escalate globally or the market loses favor in stocks and equities due to rising inflation narratives. The panic spurred during this time helped investors turn towards gold to stabilize their returns while battling a serious economic crisis.

“Gold prices have been down for many years. In recent months, it has started moving. Whenever a commodity that has been static for a long time starts moving, it gathers momentum. That’s what’s happening with gold right now. The momentum is building, and who knows how high the gold rates will go?”