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The first quarter of 2023 brought strong demand for gold, but buying fell off in Q2.
Rich Checkan of Asset Strategies International said financial planners helped drive demand in Q1 as they sought physical metal for their clients. But in Q2 people put too much faith in the US Federal Reserve and purchases dropped off, at least at the retail level.
“I think part of what’s propping up the gold price right now is central bank purchases, not the individual investor purchases,” he said. “And I don’t think they’re going to get going until the Fed’s done — but I think they’re pretty close.”
This interview was filmed on July 26, 2023.
#Investing #PreciousMetals #Gold
0:00 – Intro
0:25 – Rich and his work at Asset Strategies
1:21 – Physical gold demand in Q1 vs. Q2
4:50 – Asset Strategies’ Perth Mint program
7:15 – Investors will step up when Fed pauses
9:36 – Fed needs Congress to shape up
13:34 – Is FedNow a slippery slope to CBDCs?
17:24 – How high can gold go in this cycle?
22:29 – It’s time to fill your allocation to gold
24:16 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
