A new global economy is taking shape right underneath your nose. For decades, the United States has been the standard-bearer of international trade and globalism. Through free trade agreements, the world’s biggest economy has been reducing barriers to the international flow of goods and services. Today, the current U.S. administration seems intent on tearing up free trade agreements, plunging into trade wars, and putting tariffs on long-held allies. The new global economy is taking a big step backward and the consequences could be exciting moves in the gold market.
Take a look at the impact steel tariffs are already having on the U.S. economy. Steel prices are already up 45 percent over last year and with the addition of tariffs to steel from just about everywhere in the world, prices are going to continue to balloon. The U.S. currently does not produce enough steel to provide domestic alternatives to imported steel, which means a wide range of consumer goods, industrial goods, and construction will see inflated prices. Construction and automakers are the two biggest steel buyers in the U.S. Tariffs could add as much as $300 to new vehicles and impact inflation.
Gas prices are also on their way up – largely on the news that the U.S. administration was withdrawing from the Iran nuclear deal. By reinstating sanctions against the fossil fuel-rich country, there’s going to be a crunch on global supplies and gas prices will continue to rise for consumers in the U.S. Not only are vehicles prices on their way up, but the cost of driving will hit consumers, too.
As inflation picks up speed, you can expect gold prices to increase, too. With more headlines affecting the global economy every day, you should get the live price of precious metals like gold and silver before increasing your position. Gold is the market’s preferred hedge against inflation. In the long term, gold beats inflation. When you want an asset that’s safe, and an asset the value of which won’t erode over time, you buy gold.
The quickest and easiest way to start investing in gold is to go online and buy gold coins and gold bars. These are most readily available from online retailers such as Silver Gold Bull, credible retailers that offer low premiums, global storage solutions, and gold as part of a registered retirement savings account.
Buying gold bars and gold coins is incredibly simple. The price you pay is all based on the spot price that day, i.e., the price of an ounce of gold bullion on the markets. In addition to that price, you pay a premium. This covers the costs of producing physical gold coins and bars and selling them. When you go with online retailers like Silver Gold Bull, you can often enjoy lower premiums because they have lower overhead. Different coins and bars will have also have different premiums depending on where they were made.
Gold is a sound investment for the new global economy. Don’t let turbulent news impact your savings. Invest in gold today.