Towards the end of last month gold futures passed the giddy heights of $2,700. This move signalled a 42% rise in the price of gold since October 2022. And it wasn’t a gradual climb either in the 6 weeks or so before it had climbed from $2,400. Since then gold has experienced a small correction, and this is nothing to be worried about. Yes, the multi-year bull run has been impressive, but it hasn’t been without periodic corrections. Although gold's long-term outlook remains robust, driven by factors like global economic uncertainty, inflationary pressures, and geopolitical tensions, its short-term price fluctuations can be unpredictable.
For now, we may see a real slow-down in gold’s bullish momentum. Minuted released from last month’s FOMC suggest that Fed rate cuts may be slow and steady. Long-term this is no bad thing at all, but short-term may see trader sentiment towards gold somewhat diminished. Long-term though, nothing has changed: wars continue to be fought, currencies continue to be devalued, government spending continues to be unsustainable and central banks continue to line their gold reserves in preparation for whatever lies ahead.
If you’re thinking about what you can do to prepare for the long-term, take a look at our news below. From buying coins, to investing tax-free you’ll be sure to find something that satisfies your investment needs.
Buy Coins: What to know, what to buy and where to start
This last week we have had several queries regarding gold and silver coin ownership. We have taken all of your questions (and more) and popped them into a handy YouTube video. From why you should buy bullion coins over collectibles, and which coins to consider, Jan Skoyles covers it all.
How To Tap Into Your Gold Opportunity: Finimize Live Webinar, November 14th
Join CEO Dave Russell as he chats with financial news and education platform, Finimize. Dave will discuss the role gold plays in your portfolio, and how you can best take advantage of the gold price right now. Grab a place and you'll receive a free Gold and Silver Investment 101 guide post-event to help you take your portfolio to the next level.
Protect Your Capital Gains Ahead Of The Autumn Budget
One for our UK clients. There are less than 3 weeks to go until Labour’s first Autumn budget. Capital Gains Tax is high on the agenda and many are wondering what changes will be made. Interestingly, Gold Britannias are CGT free, so if you’re looking for a way to lock in any gains at the current rate but still keep your money invested, then it might be worth considering Britannias. Give us a call, to find out more.
