"Gold Bullion Con" Targeting Gold Owners

Public Service Announcement: Beware of the "Phantom Hacker" Gold Bar Con

A new and sophisticated scam known as the "Phantom Hacker" con is targeting gold owners. This scam involves fraudsters posing as federal agents or tech support personnel, claiming that your financial accounts or devices have been compromised.

They may instruct you to convert your assets into gold bars for safekeeping by the U.S. Department of Treasury or to protect your money by handing it over to a supposed treasury agent. 

Stay Safe with These Tips:

Verify Identities: Always verify the identity of anyone claiming to be a government official or tech support. Use official contact information from trusted sources.

Be Skeptical of Urgent Requests: Scammers often create a sense of urgency. Take your time to assess the situation and consult with trusted advisors.

Do Not Share Personal Information: Never provide personal information or financial details over the phone or through pop-up ads. 

Report Suspicious Activity: If you suspect you have been targeted by this scam, report it to the authorities immediately. 

Protect your assets and stay informed. Remember, legitimate government agencies will never ask you to transfer assets to protect them. Stay vigilant and stay safe!

A Standard Gold Bar Surpasses $1 Million in Value 

This week, the price of gold reached a significant milestone. As the spot price exceeded $2,500 per troy ounce, a new record high, the value of a standard 400-ounce gold bar surpassed $1 million for the first time in history. 

The exact price tag on each gold bar might vary a bit – after all, they're not all identical twins. But let's focus on the big picture here: a single bar of gold is now worth more than most people's homes! Even in our digital age, good old-fashioned gold is still a major player in the world's financial game. 

Bullion Outperforming Other Major Currencies 

As global economic uncertainties persist, gold is proving its mettle as a safe-haven asset. 

Gold has demonstrated impressive performance, surging over 20% year-to-date and outshining major currencies like the US dollar, yen, and euro.  

While these traditional currencies struggle to maintain their value, gold continues to assert its dominance as a reliable asset. This contrast shows why investors are increasingly turning to the precious metal as a hedge against currency devaluation and economic instability. 

Powell’s Speech Fuels Gold and Silver Surge

While specific timelines or magnitudes were not provided, Federal Reserve Chair Jerome Powell's speech at Jackson Hole, Wyoming made a clear message: the era of rate hikes is likely over.

"The time has come for policy to adjust," Powell stated, adding that "the direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."

The question now is not when, but by how much? This news sparked a rally in the stock market, but it's the precious metals sector that could see significant benefits:

• Gold prices surged as high as 1.5% following Powell's speech
• Silver climbed as high as 3%, briefly reaching $30/oz

Why are gold and silver reacting so positively?

1. Lower interest rates typically weaken the U.S. dollar, making dollar-denominated gold more attractive to international buyers.
2. As rates fall, the opportunity cost of holding non-yielding assets like precious metals decreases, enhancing their appeal.
3. The prospect of rate cuts often signals economic uncertainty, driving investors towards safe-haven assets like gold and silver.
4. Lower rates can lead to increased inflation fears, boosting demand for precious metals as inflation hedges. 

While the Fed's policy shift isn't guaranteed, the mere prospect of rate cuts has already ignited interest in gold and silver. As we await more concrete details on the Fed's plans, savvy investors are closely watching the precious metals market for potential opportunities.

"A Financial Supernova is Coming..."

In his latest eye-opening video, Mike unveils a startling financial forecast:

• Unprecedented global debt is fueling a "hyper-bubble" across multiple asset classes
• Stocks and real estate are at historic overvaluations, while nearly one in five companies struggle to service their debt
• We're in the second-largest bubble in history, eclipsing even the 1929 crash

But here's the shocking twist: Mike warns that unlike previous crashes, this time around traditional safe havens may not offer the protection investors expect. 

"This is not just going to be a bull market," he cautions. "This is going to be a financial supernova that happens in the next big event." 

Watch Mike’s warning here. 

Ready to fortify your metals portfolio? Explore our premium selection of precious metals today.   

Buy Gold or Silver Today

That’s it for this week's GoldSilver Nuggets. We'll be back next week with more news and updates. 

Best,

Brandon S.  
Editor
GoldSilver