Federal Reserve Chair Jerome Powell said that the economic recovery remains uncertain as the COVID-19 pandemic spreads unabated.
He said and I quote, “The outlook remains highly uncertain, in part because it depends on controlling the spread and effects of the virus. There is a risk that the rapid initial gains from reopening may transition to a longer than expected slog back to full recovery as some segments struggle with the pandemic’s continued fallout.”
This is coming from the man in charge of the US Dollar. He essentially has the power to manipulate what will happen to our money and even he can’t guarantee where we are headed.
Even more interesting is that Powell said the National Association for Business Economics Virtual Annual Meeting revealed we are progressing faster that expected, BUT not fast enough.
All the money printing, stimulus bills, bailouts, and financial assistance to businesses of all sizes and shapes and we are still not out of the woods.
Powell himself acknowledged that this is a good thing for the gold market. Gold is the one investment that has remained steady in times of economic growth and thrived in times of economic crashes.
Do note that Powell is not discouraging people from getting into the market or working or running their businesses. In fact, it is the contrary. He is doing everything he can to make people work, but recovery simply isn’t there yet.
We’re not trying to scare you. All we want is to make sure that you are prepared for the long haul.
We are obviously far from recovery. The best thing to do right now is protect your investments.
Go back and look at your portfolio. Diversify and make sure gold is a significant part of your investment.
I know that many experts suggest putting 3 to percent of your investment in gold but investing is not a one size fits all kind of program.
Different people require different portfolio allocations. Noble Gold is here to help you plan your investment.