Precious metals are seeing gains once again following the post-election dip, just as many economists had expected. Even China, which had been holding back for five months, returned to purchasing massive quantities of gold.
“Falling U.S. interest rates and ongoing solid demand from central banks are supporting the gold price,” USB Analyst Giovanni Staunovo said. “(It) Was definitely good to see again purchases by the Chinese central bank last month, but other central banks have been also buying large quantities.”
USB is not alone in their bullish shift on precious metals. Their Chinese counterparts echoed the sentiment to justify recent purchases.
“The decision to increase gold holdings, particularly following Trump’s recent election victory, reflects the PBOC’s proactive approach to safeguarding economic stability amid evolving global conditions,” OCBC analysts said in a note.
All of this was expected by Jonathan Rose, CEO of Genesis Gold Group, who had prepared his company before the election for the results that he was hoping would happen.
“While other gold companies were cheering for Democrats to win so they could continue to sell on fear, we positioned our clients to be ready for a Trump victory,” he said. “It’s paying off now and will pay off even more once he’s in office; expect major gains in gold and silver very soon.”
Genesis Gold Group is a faith-driven precious metals firm that specializes in rolling over or transferring retirement accounts into Genesis Gold IRAs backed by physical precious metals.
“With interest rate cuts coming and a return to sound fiscal principles, we expect the economy to perform much like it did during President Trump’s first term when gold prices rose 51%,” he continued.
The ongoing “bubble” caused by geopolitical turmoil and a stock market that has been propped up by inflation have prompted many Americans to consider safeguarding their retirement with physical gold and silver. To learn more about how Genesis Gold Group can help, request their free, definitive Gold and Silver Guide
