Gold continues to show just how important of a role it plays in today’s complex, modern, global, geopolitical, and financial world. After reaching a high near $1,300 per ounce last month, it retraced some of those gains, falling back to near $1,200 last week. A slight ease in the war of words between North Korea and the United States, along with a strengthening dollar helped increase selling pressure.
What a difference a week makes. Domestic political uncertainty has cast doubt on the ability of Congress to pass, what was perceived as, a “sure thing” pro-business agenda. The resulting weakness in the US dollar has driven gold to over $1,250 as of this writing.
This price volatility is not surprising given the present domestic and geopolitical environment, as well as continued concerns about the long term health and stability of the global financial system. In such an environment, we will likely see periods of wide swings in the price of gold and silver. So, what should one do about it?
Always consult with your financial advisor on the proper allocation of physical gold and silver in your portfolio. Then, within those guidelines, it may be a good idea to steadily accumulate gold and silver each month. Set aside some additional cash, if you’d like, and make one time purchases of gold and silver on significant price drops.
The OWNx platform provides you with the tools necessary to accumulate your gold and silver. But buying gold and silver is only half of the equation. Just as important is the ability to sell your metal when personal circumstances or market conditions warrant it. With our platform, you can do this 24X7 from your online Dashboard. Manage your personal holdings, as well as those you may have set aside within a self-directed IRA to protect your long-term investments.
In this rapidly changing world, you need tools that enable you to manage your physical gold and silver. Because for the foreseeable future, market volatility will be the new norm.