Daily Gold Market Report

The Rising Importance of Hard Assets:
Protecting Wealth with Physical Gold Amidst Monetary Expansion

(USAGOLD – 3/18/2024) Gold prices are slightly higher this morning. This week’s significant U.S. economic event is the Federal Reserve’s Open Market Committee (FOMC) meeting, which starts on Tuesday morning and concludes on Wednesday afternoon. It will be followed by a statement and a press conference led by Fed Chairman Jerome Powell. Gold is trading at $2157.57, up $1.67. Silver is trading at $25.28, up 10 cents. Despite the implementation of what is described as one of the most restrictive monetary policies in history, the monetary base is still increasing. The situation suggests that in the event of a recession, traditional monetary policy tools may not be as effective in managing economic downturns. Tavi Costa, of Crestcat Capital suggests that with the potential for traditional fiat currencies to lose value or become less reliable in such uncertain economic times, the ownership of hard assets like physical gold becomes crucial. This perspective underscores the importance of diversifying one’s investment portfolio with tangible assets that can withstand economic fluctuations, offering a measure of financial security.