Precious metal investors have faced a grueling year as gold prices contracted after two years of gains.
In recent days, however, gold and silver prices reached their highest levels since the sharp selloff in November. They remain a good alternative asset to invest in, Stephen “Sarge” Guilfoyle wrote in a recent Real Money Pro column.
“Now with consumer inflation spiking to a 7% annual rate, and wages rising just 4.7% annually, investors are waking up to one of the yellow metal’s perceived functions, that of being an inflation hedge…,” Guilfoyle wrote recently on Real Money.
These days, though, cryptocurrencies have received some of the capital that investors would have sunk into gold or silver previously.