{"id":43069,"date":"2024-06-13T04:27:30","date_gmt":"2024-06-13T11:27:30","guid":{"rendered":"https:\/\/goldco.com\/?p=43069"},"modified":"2025-01-06T12:54:56","modified_gmt":"2025-01-06T20:54:56","slug":"4-reasons-to-be-bullish-about-gold","status":"publish","type":"post","link":"https:\/\/goldco.com\/4-reasons-to-be-bullish-about-gold\/","title":{"rendered":"4 Reasons to Be Bullish About Gold"},"content":{"rendered":"

Updated 1\/6\/25<\/span>The gold price has been climbing all year, with recent all-time highs set last month of over $2,400 per ounce. While there has been some recent pullback due to profit-taking, the underlying conditions favoring a continued increase in the gold price are still there.<\/p>\n

Inflation remains elevated, above 3%, and doesn\u2019t show signs of falling below 3% anytime soon. The Fed remains steady on interest rates, with no clear case for rate cuts.<\/p>\n

Fears of recession remain, as the labor market is slowly weakening. And to millions of Americans still struggling to make ends meet, their financial conditions are stagnating or deteriorating.<\/p>\n

But if all of this wasn\u2019t enough to remain bullish on gold, here are four more reasons that indicate even more potential gains for gold in the future.<\/p>\n

1. UK Individuals Looking to Gold as Safe Haven<\/h2>\n

The UK is facing an upcoming election in which the ruling Conservative Party could end up getting thrown out on its ear. Rishi Sunak\u2019s deeply unpopular government could end up getting thrashed at the polls, and might not even be the second-place vote getter.<\/p>\n

Many Britons are uncomfortable about the uncertainty of what appears to be a near-certain Labour win, with the possibility of higher taxes and more regulations. Perhaps as a result, the UK\u2019s Royal Mint is seeing an explosion of interest in gold.<\/p>\n

Gold sales at the Royal Mint<\/a> have skyrocketed ever since the election date was set for July 4, with sales more than doubling from previous figures. And many of those buyers were first-time buyers, looking for safe havens amid political and economic uncertainty.<\/p>\n

With the US elections coming up in November, could we see similar increases in the months leading up to the election? A lot of potential demand could be unleashed before November, depending on how polling numbers look.<\/p>\n

2. Gold ETF Demand Growing<\/h2>\n

While gold exchange-traded funds (ETFs) may have their drawbacks, they nonetheless remain a popular\u00a0 product for those who want exposure to gold without having to actually buy gold. This year has seen huge inflows into gold ETFs<\/a>, as the gold bull run has spurred additional demand.<\/p>\n

While gold ETFs may be easy to purchase, it\u2019s important to remember that buying shares in a gold ETF doesn’t actually mean that you\u2019re buying gold. You\u2019re just buying shares in a fund that claims to own gold.<\/p>\n

Those ETF shares can\u2019t be converted to gold, and you have to trust that the fund actually owns and controls the gold it claims to own, as the custodial arrangements surrounding gold ETFs are often quite opaque.<\/p>\n

But while gold ETFs may have some disadvantages to physical gold ownership such as owning gold through a gold IRA, they are still popular with many people, and interest in gold ETFs can sometimes be a proxy for overall sentiment towards gold.<\/p>\n

3. Stronger Chinese Gold Demand<\/h2>\n

China continues to be a major player in the gold market. Whether it\u2019s the Chinese central bank continuing to buy gold, or Chinese plowing money into gold, China is increasingly becoming a driver of world gold markets.<\/p>\n

In the first three months of this year, Chinese individuals increased their gold purchases by over 34%<\/a> over the same time period last year. In fact, gold has become so popular in China that some are increasingly having to face the prospect of gold scams<\/a>.<\/p>\n

With many Chinese having given up on the real estate market, they\u2019re looking to gold to provide themselves with price growth and economic stability and security. But that has led scammers to enter the market as well, tricking unsuspecting individuals into buying fake gold.<\/p>\n

It can be helpful to familiarize yourself with how gold scammers operate, so that you don\u2019t run the risk of falling victim to a gold scam<\/a>. And that\u2019s also why it can be important to work with trusted partners who guarantee the authenticity of their gold.<\/p>\n

At Goldco we work directly with mints around the world to source our gold coins, bringing you 100% authentic gold coins directly from the mints that produce them.<\/p>\n

4. Gold Analysts Remain Bullish<\/h2>\n

Many gold analysts are similarly bullish on gold, expecting further growth in the gold price this year. Analysts at UBS, for instance, think that gold should be bought on dips<\/a> when the gold price hits $2,250 to $2,300 an ounce.<\/p>\n

We\u2019re nearing that territory right now, as continued profit-taking has kept gold trading at or below $2.350 an ounce for a while. But if economic conditions begin to deteriorate later in the year, the gold price could start rising again.<\/p>\n

UBS specifically pointed out central bank gold buying as a key support for the gold price, something that has helped buoy gold in recent years. Between central banks continuing to buy gold and others looking to buy gold as a safe haven asset, there should be plenty of continued gold demand to keep the gold price high.<\/p>\n

How Bullish Are You Towards Gold?<\/h2>\n

If you\u2019re looking for safe haven assets to help protect your financial well-being during an economic downturn, you can certainly do worse than gold. Gold has served as a safe haven asset and a store of value for centuries.<\/p>\n

Gold\u2019s performance during periods of sustained high inflation, such as during the stagflation of the 1970s, and its performance during recessions, such as during the 2008 financial crisis, have helped solidify gold\u2019s reputation as a safe haven.<\/p>\n

Many Americans have already taken steps to protect themselves with gold, whether it\u2019s through tax-free rollovers of 401(k) assets into a gold IRA<\/a> or through direct cash purchases of gold shipped directly to their doors.<\/p>\n

If you\u2019re worried about continued high inflation, about the threat of recession, and if you fear how much you might lose during a stock market crash and economic downturn, maybe it\u2019s time to start thinking about gold.<\/p>\n

Call the experts at Goldco today to learn more about how owning gold can help you safeguard your financial future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Updated 1\/6\/25The gold price has been climbing all year, with recent all-time highs set last month of over $2,400 per ounce. While there has been some recent pullback due to profit-taking, the underlying conditions favoring a continued increase in the gold price are still there. Inflation remains elevated, above 3%, and doesn\u2019t show signs of […]<\/p>\n","protected":false},"author":3,"featured_media":43070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[209],"tags":[897,652,609],"class_list":["post-43069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-precious-metals","tag-gold-demand","tag-gold-price","tag-safe-haven-asset"],"acf":[],"yoast_head":"\n4 Reasons to Be Bullish About Gold – Goldco<\/title>\n<meta name=\"description\" content=\"Gold has pulled back slightly after hitting all-time highs. 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