Gold and silver have fascinated investors for centuries and offer potential protection against inflation and economic uncertainty. Whether you’re a seasoned investor or just starting out, these precious metals can add a layer of diversification to your portfolio.
Precious metal prices today
Gold has performed very well in 2024 and is up more than 13% this year as investors anticipate possible interest rate cuts from the Federal Reserve. Given the recent uncertainty surrounding the timing of these cuts, the price has retreated from its May high of $2,450 and is currently around $2,334.
Silver has also risen since the start of the year, rising above $32 in May. However, the price has also retreated recently and is currently trading near the $29 level.
Gold price forecast 2024
According to Jonathan Rose, a 20-year financial advisor with a Series 3 commodity license and co-founder/CEO of Genesis Gold Group, the “political and economic climate in the United States today is one of the driving factors behind rising prices of precious metals such as gold and silver.”
Rose, who developed the Prepper Bar, adds that “as mining production has not increased in recent years, industrial demand has soared. As a result, most economists predict that we will see a strong precious metals market in the coming years.”
Meanwhile, Bank of America strategists said in a recent note that three factors could strengthen the case for the commodities market in 2025, citing findings from the 2024 Virtual Commodity Conference held last week.
Panelists attending BofA’s event said the resurgence in inflation, alongside trends such as decarbonization, deglobalization and advances in data centers and AI, have all strengthened the outlook for commodities in recent years, with experts particularly favoring gave to gold and soft commodities.
Investing in Precious Metals: Consider Prepper Bars
Rose believes Prepper bars could be a solution for those looking to invest in gold and silver.
“Picture this: The US dollar has crashed. Cyber attacks have made cashless payments useless. You only need to purchase gas. Or you are under surveillance without money or credit cards available. The silver bar, made in the USA and IRA eligible, works the same way you would tear off a rectangle from a chocolate bar,” he explains.
Rose states that they are “a mint innovation,” offering consumers the flexibility of both a large and small gram bar.
“The bar offers portable wealth with easy-tear rectangles, perfect for collecting or making emergency transactions,” adds Rose, who says industrial demand has soared as mining production has not increased in recent years.
Rose says, “The Prepper Bar is an answer to questions that have been asked by precious metals enthusiasts for years.”
He continues: “The unique design of the bar itself allows it to be easily split into 3 different denominations for maximum utility when bartering or trading. As the value of the dollar continues to decline, many people have started looking for alternatives to the existing currency, and we believe Prepper Bar meets those needs.”
The precious metals enthusiast believes his Prepper Bar product offers portable wealth and is easily accessible because it is designed to fit in wallets. “The unique ability to transport precious metals in a form that is fragile and sleek enough to be worn at all times adds even more value to the product,” he concludes.
Read more about the best gold ETFs
Gold, often seen as a safe haven, serves as a hedge against inflation, currency fluctuations and geopolitical uncertainties. Investing in Gold Exchange-Traded Funds (ETFs) offers an easy way to gain exposure to this precious metal without the complexities of physical ownership.
