“Central banks have loaded up on more gold than previously thought this year,” Bloomberg reports, “offering crucial support to prices that have faced pressure from global monetary tightening.

“Countries expanded bullion reserves by 337 tons in the three months through September, the World Gold Council said in a report Tuesday. That follows an increase of 175 tons in the second quarter, which was bigger than the council’s previous estimate of 103 tons.

“Central bank purchases for the first nine months of the year now total 800 tons, driven mainly by China, Poland and Singapore, as well as unreported buying.

“The pace has exceeded the amount for the same period of last year,” Bloomberg concludes, “which ended with record demand.”

Paradigm’s Rude Awakening editor Sean Ring observes: “Central banks worldwide hold gold as part of their reserves, which can provide security and confidence in gold's value… And they’ve been buying a lot lately.” 

If central bankers believe in the security of gold reserves, you should likewise.

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Your Rundown for Friday, November 3, 2023...

Nine More Things We Love About Gold

Nine additional reasons to buy gold right now, according to Sean?

1. “Wealth Preservation: Gold has been a long-standing store of value that retains its purchasing power over time. It can be a safety net against inflation and currency devaluation.

2. Hedge Against Crisis: Gold often performs well during inflationary periods but not perfectly. It’s more of a “crisis hedge” than an inflation hedge. When investors anticipate the value of money decreasing rapidly, gold often increases. And while Jay Powell’s monetary policy has tightened considerably, Congress’ ludicrous fiscal policy has not. How much more money is going to Ukraine, Israel, and Taiwan? When will war games turn into war?

3. Diversification: You don’t have to back up the truck and put everything into gold. Just adding gold to a portfolio provides diversification, which reduces risk. It often has a negative correlation to stocks and other financial instruments.

4. Safe Haven: During geopolitical tension or economic uncertainty, investors often flock to gold as a safe haven asset. Ukraine was already a messy situation, but Israel and Hamas have taken that messiness to a whole new level.

5. Liquidity: Everyone loves gold and is a buyer. It’s a highly liquid asset that can be sold quickly and easily if needed, which can be beneficial in an emergency.

6. Capital Appreciation: While gold is often viewed as a wealth preservation tool, there's also the potential for capital appreciation, especially during market conditions like high inflation or geopolitical unrest. And with the technical outlook I’ll explain later, this is the perfect moment to make your first purchase — or additional purchases.

7. Tangible Asset: Unlike stocks and bonds, gold is a tangible asset that some investors find appealing. Dig a hole in your backyard and throw your gold in it. Just don’t tell anyone you’ve done that.

8. Historical Performance: Gold has a long history of holding value and has been a sought-after asset for millennia.

9. Low Volatility: Unlike many other assets (Bitcoin comes to mind) gold often has lower volatility, providing a steadier investment over the long term.”

Not only that, take a look at October’s chart for gold’s price in USD:

“Three times, gold bumped its head on $2,000 and relented, giving you a chance to get in,” Sean says. “There probably won’t be a fourth chance.

“You don’t have to spend everything,” he adds. “Just enough to protect you and yours. Be brave and make the move now.”

[Gold’s price has been on a tear the last 30 days… and it could be just the beginning. Our editors are all expecting gold to go higher long-term. Any day the next crisis could send gold even higher.

We recommend you get your physical gold from Hard Assets Alliance. Why? Because Hard Assets Alliance allows you to buy and take delivery of physical gold (and other precious metals) with exceptionally low costs. You can also buy and store your metal in your choice of five audited vaults worldwide.

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Market Rundown for Friday, Nov. 3, 2023

The S&P 500 is up 0.65% to 4,345.

Oil is down 0.65% to $81.95 for a barrel of WTI.

Gold’s in the green at $1,986.80 per ounce, according to Kitco.

And Bitcoin is down 1.5% to $34,400.

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