Gold will shine brightly as a safe-haven asset throughout 2023 and is an essential addition to any portfolio, according to a new investment report. As the banking sector continues to feel the aftershocks of the Silicon Valley Bank collapse, and Wall Street sits under a dark cloud of recession, gold is the smart play says the report by investment firm VanEck.
Investors also shouldn’t be put off by gold’s recent red hot pricing streak, as the yellow metal clearly has a lot further to run. The report authors note, “Last month’s developments should act as a wakeup call to those lacking exposure to the gold sector. And the entry point isn’t terrible, either. Think about it: despite the heightened level of risk in March, gold didn’t even hit its all-time highs. We don’t believe the market is fully reflecting the risks ahead.”
With the bulls in total control, there’s no time to waste. Buy now.