US Money Reserve is the country’s largest distributor of United States government issued gold,Philip Diehl, president of US Money Reserve, expressed his thoughts concerning gold in a recent podcast .
Diehl views gold as a long term investment. It does not really matter what is happening in the short term to those who choose to invest in it as much as the overall trends. Gold is to be used as more of a safe haven to store an individual’s wealth, a type of wealth insurance of sorts. This is one of the reasons that Diehl developed a precious metals IRA through US Money Reserve. This lets individuals fund their retirement through investments in precious metals such as gold, silver, and platinum. This allows their wealth to be tied to physical goods rather than stuck at the mercy of geopolitical and monetary events.
Recently there had been some turmoil that had affected the gold market significantly. Diehl attributes this to several factors, two of them being the financial collapse of 2008 and the development of gold ETFs.
Another major factor has been the continued rise of the dollar. This has made gold look like an attractive investment, particularly to those in other countries. Recently, as much as 65% of gold purchases were made by individuals in China or India.
This segues in to the future of gold, as explained in a recent radio interview. Diehl believes that gold will remain an attractive investment, or perhaps become even more attractive in the coming years despite possible short term volatility in the markets. This is due to the rise of the middle class worldwide, particularly in BRIC countries. The increase in the middle class leads to an increase in demand for precious metals. Along with this, another key factor that could lead to gold being a great investment is that the dollar eventually must come down. When this happens gold will become much cheaper which could present a major buying opportunity for those who are looking to get in to precious metals.
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