Category: Market Analysis
The Venezuelan government is currently emptying its gold vaults and moving the bullion bars to Iran. It is expected that roughly 9 tons of gold has already been moved in April alone.
Gold is also a physical commodity, thus it cannot be printed in unlimited quantities like fiat currency. There is no such thing as a “gold printer”.
he Bank of Japan is introducing additional stimulus packages to soften the blow of the economic impact that will follow after the coronavirus crisis has been overcome.
Gold has performed quite well as a safe haven asset during the coronavirus crisis, getting investors very excited for what the future may hold.
In total, there are just four assets with a positive performance over the past year, which isn’t exactly promising. It is an unfortunate side effect of the coronavirus crisis.
One also has to wonder what will happen if this plan falls apart. After all, this sentiment is all based on early data which may not be completely accurate.
On the topic of central banks, several countries are actively buying larger supplies of physical gold lately. Primarily Russia and China continue to stockpile the precious metal like there is no tomorrow.
With gold prices hitting a seven-and-a-half year high last week, the coming weeks will undoubtedly get very interesting. As more stimulus packages are announced globally, the price is likely to remain near the high end of the spectrum.
As the Federal Reserve continues to create trillions of dollars out of thin air, investors are already playing their hand. This week has been a good example of what the future may hold.
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