Gold Hits New Record High

Silver and Bitcoin also Up

Gold coins and bars
Gold reached a record high this week, making whomever holds this stash of gold a handsome profit.

Gold climbed to a record high on Monday, reaching $2,114 per ounce. Is this a break out, and will gold continue its run upwards, or will it fall back? No way to know.

Silver also climbed on Monday, hitting $23.95 per ounce, nowhere near its record. It has since pulled back to around $23.67. Right now, it takes over 89 ounces of silver to buy an ounce of gold, a number which some would believe means silver has some room to grow.

Bitcoin also flirted with record highs before dropping below $68,000.

I have to wonder if investors are looking to get out of the dollar. What do they know or suspect, and should we be worried? Is it the rising debt, the persistent inflation or the fear of war that is driving investors to seek the security of gold?

Investors who don’t have any precious metals or crypto currency may be tempted to buy or miss out on what could be a run up in value (FOMO). Those that hold precious metals or bitcoin might consider selling to “cash in” on record prices. I’m no financial investor, so do your own research and make up your own mind. Just keep in mind that preppers invest in gold and silver for preparedness reasons, not to make a quick buck.

Published 3/4/2024. Read full article.