May
Preparing Financially For Travel & Turbulent Economic Times
I have given our audience some valuable insights over the years and have some more important information for you to consider. Let me get to straight to the point by revealing the astute way to save money for travel and to preserve your wealth if we head into a global recession in the second half of 2023 - turn some of your cash into physical gold.
Gold has always been a successful preserver of wealth but looking at the macro picture I think it's going to gain in value in the coming years. The is a reason central banks around the world have been buying gold in record quantities. It is the ultimate insurance and protection against turbulent economic times. Inflation is eroding the value of any money kept in the bank. The price of gold is a little high now so you will need to wait for a pullback and suitable entry point. Gold is all about waiting for some type of significant selloff. I doubt will we see a large pullback like we saw between late September and early November 2022 (approx. US$1600 per ounce). If we do or the price even goes lower have some cash ready! I doubt this will happen because gold recently formed a triple top, meaning you get smaller pullbacks. The target where gold becomes a buy is in the US$1900/1930 per ounce vicinity. Buy quality coins, consider their capital gains tax free status, and hold. Jewellery, especially antique pieces, can provide another avenue for buying gold, but buying gold coins is relatively easier, and the resale value of gold coins is higher than gold ornaments.
If gold is on the cusp of another major bull market it could drive the price to US$2300 per ounce by years end and possibly US$4,000 per ounce by 2025. There are numerous reasons why this asset could have its moment in the sun but equally the price could tumble. Some experts are saying the price of gold is going to crash to US$1000, which would essentially cut its USD value in half. Nobody can see the future, but the set-up is there for an explosive move to the upside, but gold could indeed plummet by up to 50% from its current position. Amid such a crash of any financial asset, huge buying opportunities will exist. Be prepared for such a scenario AND the possibility of another major bull run in gold. Personally, I am bullish and expect gold to breakout this year with a US$2300 per ounce year-end target. I think physical gold is one of the savviest go-to safe haven investments out there. Gold and silver are real money. You can find a lot of articles about financial steps you should take before planning for your next overseas trip, but none mention the precious yellow metal. If you are planning an overseas adventure in the coming years this should be one of the steps to prepare financially. Not financial advice. Please do your own research.
