Billionaire hedge fund investors jumped into the gold market with both feet in 2016. Other investors all over the world did the same thing. The fear that Donald Trump would somehow win the election was so high that the gold market hit an all-time high in January 2016. But that all-time-high was broken when Trump was sworn in as president in January 2017. Gold was trading at more than $1,219 an ounce, and according to Phil Diehl, the president of the U.S. Money Reserve that price might be a bargain later this year.
The U.S. Money Reserve is one of the largest distributors of government and rare coins in the United States. Based in Austin, Texas, the U.S. Money Reserve offers investors and collectors gold and silver coins for their investment portfolios. Phil Diehl is well-known in the financial industry. He’s the man that initiated the 50-state quarter program while he was director of the U.S. Mint.
According to Diehl, and other gold experts, the fear that Donald Trump will turn trade and foreign alliances upside down in the coming months is one of the reasons that people are selling stocks and buying gold. The Canadian dollar and the Mexican peso are already feeling the pressure thanks to reports that Trump will change the NFTA Agreement. In this unpredictable environment, people around the world are buying gold, and this mini gold rush isn’t going to end anytime soon. Financial experts think the price of gold could hit more than $1,300 an ounce in 2017 because of the outlook on interest rates and the strength of the U.S. Dollar. Phil Diehl and others think the Feds will raise interest rates more than once in 2017.
The U.S. Money Reserve has been advising clients to buy gold for more than two years. Diehl predicted a jump in gold prices more than two years ago. The Chinese have been buying gold like it was free for years. The price of gold hit $1,229 an ounce on the Shanghai Stock Exchange recently. On Shanghai’s Futures Exchange, gold for June delivery is trading even higher.
Phil Diehl thinks the new gold Brexit coins, as well as, other rare gold coins are great investments and should be part of IRA accounts and private collections. Gold isn’t going anywhere but up in the next ten years, so now is the time to buy, according to Diehl.
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