The Gold IRA Company

Daily Reckoning: Sticky Inflation Means Gold Will Keep Rising

Article by Byron King in Daily Reckoning

How much gold do you own? The correct answer is: “Not enough.”

Today’s gold price is over $2,900, which means that the purchasing power of a dollar over the past century-plus has shrunk by a factor of 145 times. In other words, a single dollar back in 1914 is the equivalent of $145 today. This is why people and institutions (certainly central banks) are buying gold. And it’s why gold deserves a place in every portfolio.

Let’s dig into what’s happening with gold, what it means, and how to deal with it.

Gold Prices Have Been Rising for Quite a While

On Jan. 20, 2025, when Donald Trump was inaugurated, an ounce of gold was quoted at $2,740. Now, a month into Trump’s second term, that same metal will set you back over $2,900, a rise of not quite 7% in just a few weeks.

But don’t blame the rising gold price on Trump. Hey, after only a month in the Oval Office, this is not (yet) Trump’s economy. Many Biden administration legacies ……

To continue reading this article, click here!

WANT MORE INFORMATION?

Speak with a GOLD Specialist, CALL: 310-906-2874

Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.