Gold prices rose in Asian trading on Thursday, buoyed by a weakening U.S. dollar amid optimism surrounding potential peace talks between Russia and Ukraine. The dollar’s decline was further influenced by U.S. President Donald Trump’s announcement that both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy expressed a desire for peace in separate phone calls with him.
The softer dollar made gold more attractive to investors holding other currencies, contributing to the metal’s price increase. This movement occurred despite higher-than-expected U.S. consumer price index data for January, which typically would support the dollar.
Meanwhile, both China and Russia are facing unprecedented demand. Chinese banks are running out of gold, while Russia’s commercial and sovereign reserves are rapidly being depleted as the two BRICS nations face sky-high domestic buying surges even as prices set new records.
According to local news agency Yicai, the app of Industrial and Commercial Bank of China shows 5, 20, 50, 100, and 200-gram gold bars are out of stock, with only the 10-gram option showing limited availability.
Analysts noted that the anticipation of a resolution to the Russia-Ukraine conflict has improved risk appetite, leading to a shift towards assets like gold. Additionally, the prospect of easing geopolitical tensions has influenced other markets, including oil, which saw price declines as traders considered the potential for increased Russian oil supply if sanctions are lifted.
Overall, the interplay between geopolitical developments and economic indicators continues to shape market dynamics, with investors closely monitoring the situation for further cues. Long-term, gold and silver are considered to be hedges against geopolitical turmoil on the horizon. In the short-term, investors are scrambling to get as much as possible before prices hit key thresholds; $3,000 gold could come this month.
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.
