Gold hit record highs today on May 4, 2023, with the price at one point topping USD $2,060 and AUD $3,090 per troy ounce. In the row, known jewellery player, Vaibhav Saraf, Director, Aisshpra Gems & Jewels said, “gold pricing touching 64k right at the onset of the wedding season is unhealthy for sales. It will lead to a drop in sales in volume leading to lower stock churn.”
While, known bullion player ABC Bullion suggest that the gold price rally, which now sees the precious metal trading some 15% higher in AUD terms since the start of the year has occurred despite a widely anticipated interest rate hike by the US Federal Reserve.
That gold is flourishing is no surprise, with investors clearly of the belief that despite persistently high inflation, the growing signs of a recession in the United States, and the banking fragilities we are seeing come to the fore will soon force central banks to do a 180 degree turn, and begin cutting interest rates.
Such environments are typically perfect for gold to outperform. The new all-time high in the gold price coincides with the release of ABC Bullion’s New Investor Guide 2023 edition, which has launched today.
The Guide, which you can access by clicking on the link below, contains a host of critical information for investors looking to understand the beneficial role that precious metals can play in a portfolio, including sections highlighting.
The key benefits of holding gold in a portfolio, from long-term growth, to capital preservation to inflation protection are,
1: Five reasons to consider investing in silver, and why it may outperform gold going forward,
2: The various gold and silver products once can invest in through ABC Bullion &
3: Frequently asked questions about investing in precious metals through ABC Bullion!
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