The global economy is now in an uncertain place due to the tremendous effects of the COVID-19 pandemic. With many countries struggling to find their financial footing, investors are searching for new ways to protect and grow their wealth even in a volatile market. If you’re considering making a move into precious metals, you’re in luck.
According to Brent Cook, founder and lead analyst at Exploration Insights, it’s a great time to be involved in the market for gold and other metals. Cook is a respected industry insider who has been an independent market analyst since 1985, and he believes that 2024 will be a good year for gold in particular.
The reasons for Cook’s bullish view on gold are pretty simple. For starters, negative real interest rates and massive government stimulus packages are both highly inflationary and have been driving the price of gold and other precious metals higher. Additionally, the Fed’s quantitative easing programs have made it easy to purchase gold, much more so than other forms of currency.
But it’s not just 2024 that looks like a good year for gold investors. Cook also believes that the current market is optimistic for precious metals in general, as central banks across the globe are more likely than ever to purchase gold in order to hedge against potential economic shocks.
Furthermore, Cook believes that a gold portfolio is a great way to diversify and protect your wealth. Gold has historically shown stability over long periods of time due to its rarity and high demand. Even in the event of a crisis, gold tends to hold its value better than other investments such as stocks and bonds.
Finally, Cook points out that it’s important to understand that gold is not a get-rich-quick investment. Investors should view gold as a long-term play, and use it to hedge against potential economic downturns. When done correctly, gold can provide a secure and safe way to grow wealth over time.
It’s clear to see why Brent Cook believes that 2024 is the year to invest in gold and other precious metals. With global stimulus measures propping up demand and central banks increasingly buying into gold, Cook believes that it’s a great time to get involved. Furthermore, investors should also recognize that gold is best viewed as a long-term play, and should be used as a way to protect their wealth from potential economic shocks.