After coming out of a minor slump, gold has finally reached over the $1,700 price per ounce mark and has started to pick up steam. The recent surge comes from a drop in yields. With the new stimulus package being passed, the price of gold will remain at a constant figure before a predicted rally. Experts are predicting that the second half of the year 2021 could be a year where gold makes history once again. Some believe that it could even pass the $3,000 price per ounce point and become the ultimate hedge against inflation once again.
Although gold did struggle since November 2020, the recent surge in prices has left investors rushing back to gold. With a new President in office, many investors believed that gold would become a stagnant precious metal and not climb the way it did in 2020. With a meeting with the Federal Reserve scheduled for this week, it is predicted that due to the overall economic improvement, interest rates will start to increase opening the door for the price of gold to become more valuable. Keep in mind though, the next few months may not be pretty for gold as it once was a year ago; but the second half of 2021 will see gold rise to the occasion as it once did.
Another interesting precious metal to follow is the price of silver which has been increasing as well. Silver has become a primary commodity for most electrical and solar companies, and it’s demand has become recognized by investors. Silver’s price per ounce is just under $30 and is at $26.09 per ounce, but it will surely pick up as the year goes by.
In the year 2020, Allegiance Gold has been but a bridge for retirees and their savings accounts. Preserving wealth was a mission that was accomplished in 2020, as gold IRA’s and precious metal IRA’s were widely sought out by investors of all ages, but primarily by retirees. The uncertain future of a global pandemic, the economy becoming weaker and weaker – the year 2020 saw it all with gold being the victor. The gold IRA experts at Allegiance Gold have been not only rolling over retirement accounts into gold IRA’s, but most importantly we have been educating all of our clients with what is currently happening in our economy. The experts at Allegiance Gold can be contacted today for information regarding our economy, as well as, how a precious metal IRA works. Don’t wait until the last minute to preserve your retirement savings and safeguard your financial future.