In the bustling markets of gold, prices soared to new heights on Wednesday, fueled by the growing concerns of rising inflation. This surge in demand for gold as a hedge against inflation has been observed despite the doubts over an imminent U.S. interest rate cut and the rising Treasury yields.
Spot gold reached a new record of $2,286.24 per ounce, with an increase of 0.3%. The precious metal has been hitting consecutive record highs since last Thursday. Meanwhile, U.S. gold futures saw a 1.1% increase to $2,306.60.
City Index senior analyst Matt Simpson attributed this gold rally to the safe-haven flows as the geopolitical tensions between Ukraine and Russia persist. Despite the stronger U.S. economic data and the potential for the Fed to not cut rates in June, gold is still being favored by investors.
This week’s data revealed a surprise rebound in U.S. manufacturing, which, coupled with the rising raw materials prices, has ignited fears of a resurgence in inflation. This has led investors to hedge against inflation by investing in gold.
Gold has experienced a remarkable increase of more than 10.8% in value this year, marking its seventh consecutive day of gains. The precious metal is viewed as a hedge against inflation and a safe haven during times of political and economic uncertainty, which explains its recent surge.
Marex analyst Edward Meir pointed out that, at the moment, the driving force behind gold’s momentum is the fear of inflation rather than interest rates. Speculators, hedge funds, and commodity funds are also contributing to the gold rally by following their quantitative systems’ signals.
In other precious metals, spot silver saw a 1.2% increase to $26.41 per ounce, platinum rose by 0.8% to $925.72, and palladium edged up by 0.6% to $1,009.45.
Despite the soaring prices of gold, the precious metal’s impressive rally has not translated into a renewed interest in platinum jewelry in Asian markets, according to analysts.
Article generated from corporate media reports.
Why One Survival Food Company Shines Above the Rest
Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.
It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?
This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.
Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.
At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.
What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.
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