As we’ve covered many times on this site, central banks across the globe are buying up as much gold as they can. This makes sense considering the state of economies worldwide. One does not have to wear a tinfoil hat to realize their push for Central Bank Digital Currencies means they believe traditional fiat currencies will fall. In fact, standards such as the U.S. Dollar MUST fall in value in order for their CBDC dreams to come true.
The more perplexing move is being made by China. They and their state-run banks are also buying up as much gold as possible. Considering they’re already heading toward ubiquitous use of their Digital Yuan, it makes less sense for them to be investing in gold rather than their own economy, which has been struggling since the pandemic.
Do they know something we don’t?
China boosted its gold reserves for a fifth straight month, extending efforts by the world’s central banks to expand their holdings of the precious metal https://t.co/6iKyNSPlGR
— Bloomberg (@business) April 7, 2023
China has demonstrated a penchant for predictive hoarding. Long before the current shortages in various food items, they were stockpiling grains and other foods. Their prescience for upcoming shortfalls makes one wonder if they are expecting economic changes in the near future to justify buying up as much gold as they can.
According to Kitco:
China’s appetite for gold remains insatiable as the latest data from the People’s Bank of China bought 18 tonnes of gold last month.
China’s gold shopping spree hit its fifth consecutive month; Krishan Gopaul, senior European, Middle East and Asian market analyst, said that since November the nation has bought 120 tonnes of gold.
“Total gold reserves now amount to 2,068 tonnes,” he said in his Twitter comment.
According to many analysts, China’s dominating presents in the precious metal market is completely changing the investment landscape, creating solid value for investors.
Bob Minter, director of ETF Investment Strategy at abrdn, said that in the current environment, with solid support in the market, its only a matter of time before gold prices hit new record highs. He also added that with so much uncertainty surging through financial markets having an overweight position in gold would be a good insurance policy.
Financial tensions are unlikely to be relieved any time soon. Are China, central banks, and other powerbrokers expecting markets to plummet soon? If they were, they’d be doing exactly what they’re doing now with gold.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
Reach out to Augusta Precious Metals to learn more about protecting your wealth and retirement with physical precious metals.
