Buy The Gold Dip?

On Tuesday 8/11 spot gold price saw its biggest one day crash since 2013. Dropping from $2030 an ounce, all the way back down to $1920. If you remember, this was the day Russia came out and sparked their own vaccine news. The news showed clear advancements no one would have expected which scared gold investors. Why? Well over the last 4 months gold has been a “save haven” investment against the corona virus uncertainty, low interest rates and global economies struggling to find stable footing. This news could have given these save haven investors signs that times are getting better, and progress is being made. So they question, “why keep holding gold.” But I still see light for gold regardless of the short term news. Year after year inflation rates rise, and gold demand follows. But most importantly the money printing we have been seeing in not only the U.S. but other countries is the icing on the cake for gold. That is why i will continue to buy gold and hold for the long term. Buying physical gold is the best way to invest gold, but holding a small amount of your portfolio in gold related stocks is not a bad idea at all. My personal favorites are Barrick Gold Corp. $GOLD and Franco-Nevada Gold Royalty Corp. $FNV. Both of these companies are giants in their fields and are just starting to see large percentage gains in the last few months. We’ve said it before when spot gold was at $1750 and ounce, buy gold.

-TJ Brescia

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