The rapidly deteriorating #economy has encouraged droves of investors to increase their stake in #gold in anticipation of even worse conditions. It’s well-understood that this #preciousmetal offers a #hedgeagainstiinflation, but there’s some confusion about how to use it properly.
There’s a popular misconception that gold should be used to exchange goods and services in lieu of the #USdollar. Although it’s possible that the situation could become that dire, the economy isn’t in that position yet.
The much more likely scenario is that #goldprices and #silverprices skyrocket as inflation sharply rises. It’s this precise correlation that makes precious metals so effective at protecting wealth during times of economic instability.
Instead of simply using gold as an alternative to #cash, investors should be investing in the precious metal now before prices start notching new highs in response to the worsening economic situation.
This way, investors can sell their gold investments at higher prices and use those profits to counteract the increased living costs that inflation brought about. This is the most effective way to use physical gold right now.
Watch the video now to see why Sr. Precious Metals Advisors Steve Rand and Joe Elkjer are saying about the economy, where gold prices are headed, and why this investment strategy is most effective.
See LIVE Gold and Silver Spot Prices here: https://www.sbcgold.com/charts/