Gold Has Surged To New All-Time Highs

In a time when headlines often bear news of uncertainty, gold shines brighter than ever.

On Thursday, gold rose to over $2,161/oz, surpassing the significant $2,100 milestone and marking a historic moment for precious metal investors. Today, we’ll talk about some of the reasons gold could be breaking out.

It’s all in this week’s Nuggets. Let’s get started!

S&P 500 and NASDAQ Blaze to Record Highs
Earlier this week, the S&P 500 reached a new all-time high, boasting a surge of nearly 4% in the month of February alone. Not to be outdone, the NASDAQ, climbed a whopping 4.8% in the same period.

Meanwhile Billionaires are Selling Stocks
A recent article from Forbes reported that Jeff Bezos, Leon Black, Jamie Dimon, and the Walton family have now sold a combined $11 billion in company stock in February. Seems strange when the S&P500 and NASDAQ continue to break out. Do they know something we don’t?

True Inflation May Have Peaked in Late 2022
While the stock market continues to reach all-time highs, everyday Americans aren’t feeling the same optimism. A new study conducted by the International Monetary Fund shows CPI could be downplaying how bad inflation is. If inflation were measured correctly, the researchers argue, it would have peaked at 18% in November 2022 and still be around 8%.

The “Crypto Winter” Is Over
After many declared it dead, Bitcoin is making a major comeback. Bitcoin reached new all-time highs of $69,191.95 per coin, beating its previous record of $68,999.99 set in November 2021.

Want Your Burger at Dinner Time? That’ll Be an Upcharge
In a move reminiscent of Uber's surge pricing, Wendy’s CEO Kirk Tanner unveiled a strategy to introduce "dynamic pricing" across their chain, adjusting prices in real time. But fast-food fans online weren’t having it. After some swift backlash, the company backed down saying they have “no plans” to increase prices.

How much pure silver is in sterling silver?

A. 82.5%
B. 90.5%
C. 92.5%
D. 99.5%

Scroll to the bottom for the answer...

Gold Has Surged To New All-Time Highs

In a display of resilience, gold prices cruised passed the $2,100 mark, peaking at over $2,161/oz during the day on Thursday.

What’s Contributing to Gold’s Rise?

Throughout history, gold has been seen as a store of value during times of geopolitical strife. We're seeing that today, with gold rising over $300 since the beginning of the Israel-Hamas war. Some analysts say that as the war continues, this could potentially continue to boost safe haven assets like gold and silver.

But that’s not the only factor. Anticipation is also brewing among investors regarding potential upcoming interest rate cuts this June. It’s a common belief that gold will perform better when rates are lower, and some say this is adding fuel to the gold rally.

Head of commodity strategies at TD Securities, Bart Melek, says “The big reason here is that we’re seeing the market increasingly believing that a Fed rate cut is nearer rather than further away... Markets have to be a little bit more convinced for gold to move higher, but ultimately in the second quarter, we do think it can go to over $2,300 plus.”

Fed Chair Powell Stresses Patience on Rate Cuts

Despite the optimism among investors, Fed Chair Powell stressed patience at the semiannual Monetary Policy Report before the U.S. House Financial Services Committee. Powell said it will likely be appropriate to begin lowering borrowing costs “at some point this year,” but stated that officials are not ready yet.

It appears pent up demand in the gold market is pushing gold to new heights whether rates get lowered or not.

It's That Time of Year — Tax Season

If you're one of the fortunate ones receiving a tax refund, consider an empowering financial move.

Instead of letting that extra cash sit around, why not put it to work for you?

Investing your refund in a gold Individual Retirement Account (IRA) could be the strategic play you're looking for. Gold has stood the test of time as a safe haven asset, offering protection against inflation and market volatility. By allocating your tax refund to a gold IRA, you're not just saving; you're actively securing your future with an asset that has consistently held its value.

You easily rollover from a 401k, or transfer from an existing IRA, so getting started is easier than ever. GoldSilver works with some of the world’s top third-party custodians to safeguard your retirement accounts, adding an extra level of security to your account.

If you have any questions about opening a gold IRA, our dedicated client service team can help explain the process. Give us a call at 888-319-8166 or simply reply to this email.

Let your tax refund work as hard for you as you did for it — invest in your gold IRA today.

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

Best,

Brandon S.  
GoldSilver

Buy Gold or Silver Today

“The castle gates will always open for gold-laden donkeys.”
— Russian Proverb

How much pure silver is in sterling silver?

A. 82.5%
B. 90.5%
C. 92.5%
D. 99.5%

Answer – C. 92.5%

Sterling silver is an alloy composed of 92.5% pure silver and 7.5% other metals, often copper. This composition ensures that the silver is durable enough for use in jewelry, utensils, and other items, while still maintaining a high level of purity to retain its value and aesthetic appeal.