Gold crosses $2,000 for the first time in history
In a historic week in gold investment, the gold price crossed the $2000 dollar per ounce mark. After crossing the $2,000 milestone. Gold continued to register gains yesterday, further adding to its all-time high.
The continued positive price movement in the gold market is nothing short of remarkable.
Why is the price of gold soaring?
While indeed remarkable, precious metals expert, Andrew Maguire believes the recent surge in gold is entirely logical, stating you “couldn’t ask for a better scenario,” for aggressive positive action. A unique combination of paper market forces and strong physical bullish drivers are powering the gold price to successive all-time highs.
Additionally, in response to the economic instability of the COVID-19 pandemic, the unlimited Quantitive Easing of the US Federal Reserve is weakening the US Dollar. As more US dollars are pumped into the economy, the dollar simply devalues against the gold price.
Watch Andrew Maguire’s in-depth analysis of the recent action in the gold market, in last week’s Talking Gold from the Kinesis show ‘Live from the Vault’.
Gold and fiat currency
As the US dollar devalues, the price of gold goes from strength to strength.
The impact of economic uncertainty on the US dollar highlights the instability of fiat currency and fragility of the traditional economic system. Serving as an important reminder of the personal economic stability digital physical gold can offer the global community.
Kinesis enables users to conduct their everyday finances in the stable value of physical gold and silver bullion. Kinesis users are able to shield their income or savings from the instability of Fiat currency, while making routine purchases and payments in physical gold or silver with the Kinesis VISA card.
In a period that has exposed the frailties of traditional currency, Kinesis brings a true store of value to our users’ everyday spending.
Start spending in gold today.
