FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Aug. 22, 2023 /PRNewswire/ -- Gold prices don't typically move in line with prices of other financial assets, like stocks. That's why gold is often considered a safe haven investment asset for your portfolio. The stability of gold can serve as a hedge against inflation and mitigate the negative effects of market downturns. During and immediately prior to a recession, more people tend to buy gold because of its intrinsic value as other investment assets, like stocks and bonds, are more likely to lose value. Gold can gain in value as more investors buy it to protect their portfolios.  A report from Money.com said "that Gold's price has climbed in 2023 and was up as much as 9% for the year in April. As of the end of June, the price is up around 4% year to date, sitting near $1,920 per ounce. The rise has been attributed to rising interest rates and stock market volatility, as well as instability in the banking sector. Buying gold during an economic slowdown is an age-old trend because, unlike other investment options like stocks, the value of gold tends to rise as investors seek safe haven assets. Past performance is no guarantee of how the price of gold will perform in the future, so no one can be certain where the price will go from here. However, demand for safe haven assets may continue to be elevated for the foreseeable future. When the U.S. is politically and economically stable, the dollar strengthens, pushing the demand for precious metals like gold lower. Conversely, an unstable socioeconomic environment weakens the dollar and prompts investors to seek stability in gold and other precious metals, which pushes gold rates upward." Active Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Orla Mining Ltd. (NYSE: ORLA) (TSX: OLA), i-80 GOLD CORP. (NYSE: IAUX) (TSX: IAU), Alamos Gold Inc. (NYSE:AGI) (TSX:AGI), B2Gold Corp. (NYSE: BTG) (TSX: BTO).