Gold As A Safe Haven In An Uncertain 2023: Diving In With American Hartford Gold

The valuations of precious metals like gold and silver skyrocketed in Q1 of 2023. On March 20, 2023, the value of gold crossed $2,000 per ounce for the first time since March of last year. Since August 2011, gold has only ever reached this valuation on three separate occasions.

While crosses above long-term highs have occurred in gold and silver before, this time the sentiment around precious metals appears to be different. Spurred by the largest bank collapse since 2008 and a tenuous geopolitical landscape, Americans appear to be increasingly anxious about protecting their purchasing power. Add to this the Federal Reserve's commitment to its quantitative tightening policy, which it says will remain "in action" until inflation is reduced to 2%, and it might be even easier to see why people feel this way. 

Gold's 10% yearly increase and silver's 4% increase might be just the start of what's to come in the remainder of 2023.

Precious Metals As Historical Safe Havens

Gold and silver have served as havens in several economic crises throughout history. One paper depicts this idea with great clarity, emphasizing how the 1997 Asian Financial Crisis, the 2008 Financial Crisis and the 2010 Eurozone Crisis all increased the prices and trading volumes of precious metals. 

Given the market's many uncertainties in 2023, people concerned about their net worth likely have a good incentive to look at precious metals for security. Which, however, precious metal does one choose from? While gold remains the staple of safe haven assets, other metals like silver and palladium may be attractive destinations depending on one's goals. Silver, for example, is two to three times more volatile than gold, while palladium is more prone to "price bubbling." People must weigh their options carefully to determine which metal best suits their needs.

As uncertain times increase the demand for precious metals, having a trusted partner in the industry is vital. That's where companies like American Hartford Gold come in. American Hartford offers both physical deliveries of precious metals to homes or into a self-directed individual retirement account. Specifically, the company helps clients set up a Gold IRA, a newly created self-directed IRA with precious metals placed inside. A wide range of available gold and silver assets gives clients full control over their diversification choices.

With an A+ rating with the Better Business Bureau, a 5-star customer satisfaction rating on multiple review platforms and a ranking as the #1 Gold Company on the prestigious Inc. 5000's list of America's fastest-growing private companies, American Hartford Gold has proven its commitment to quality service and fair pricing. 

The company reports that its expertise and historical perspective can help both experienced individuals and new entrants to the market to make informed decisions about their portfolios. 

Click here to learn more about American Hartford Gold.

Featured Photo by Anne Nygard on Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.