Here's why it could make sense to invest in 1-ounce gold bars despite prices hovering above $2,400 per ounce.
Gold prices have been climbing over the last few weeks, and on Monday, the price of gold hit a new record high of over $2,400 per ounce. The price of gold was just above $2,100 per ounce in late March, meaning that gold's price has increased by about 14% in a relatively short period. This price surge is due, in large part, to today's unique economic climate, which is plagued by persistent inflation, geopolitical strife, high interest rates and other unusual factors.
And, unlike fiat currencies, the supply of physical gold is essentially fixed and cannot be inflated away by central banks or governments. This scarcity helps underpin gold's value over the long run, especially during inflationary periods when paper money loses purchasing power.
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