Gold continues to start 2022 on a high with new daily highs observed after a nomination testimony by Federal Reserve Chair Jerome Powell that renewed optimism in the precious yellow metal. In the comments, Powell instilled confidence in investors when it came to the U.S economy, unemployment, and inflation rates – all positive indicators for the gold market and gold bulls.
With a price of $1,830 an ounce, up 1.25% on the day, gold bulls across the country are preparing for a promising first quarter and increasing the amount of gold in their portfolios. Now is the best time to invest in gold before prices begin to rise, buy today.
The Fed, which once held a hawkish position, is now taking a much more flexible and dynamic stance when it comes to tightening up monetary policy – a bullish sign that looks favourable on gold. With a positive outlook on the horizon, Q1 may be the best time to have a precious metal like gold in your portfolio and reap the rewards of a profitable market.
After many false starts in previous months, 2022 may be an impressive year for the gold bulls. Don’t hesitate, invest now.