All the while, the stock market fell and remains volatile today.Īs a hard asset, gold remains an excellent inflation hedge and often provides crucial diversification benefits to a traditional stock and bond-heavy portfolio.īasically, gold acts like an “insurance policy” against drops in the stock market and the Canadian dollar.īut, if you’re looking to buy gold in Canada, don’t make the leap without first doing your homework. Take last year, for example, when gold demand hit a decade-high and increased in value following the Russian invasion of Ukraine. The yellow metal has generally performed well under bouts of economic and geopolitical turmoil. With bank failures, geopolitical tension, and crises casting doubt on the economy, not to mention inflation eroding the value of the Canadian dollar, it’s no wonder why everyone from ordinary investors to central bankers is stockpiling gold at record rates-to the tune of 4,741 tonnes last year alone. In 2023, more Canadians than ever are looking to gold and other precious metals to protect and diversify their investment portfolios due to economic uncertainty.
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