For centuries, gold has always been perceived as the ultimate safe haven asset and an excellent store of value. Gold has no counterparty risk and has managed to preserve its purchasing power through history. Gold is inherently scarce and is often perceived as the purest form of money.
After a series of virtual meetings between Finance Ministers and Central Bank Governors of the G7, they recently published a ‘policy paper’ confirming that G7 Central Banks will ‘work together’ to introduce Central Bank Digital Currencies (CBDCs).
In simple terms, precious metals such as gold and silver have historically been a hedge against currency weakness, stock market volatility, political instability and even the real risks of an economic collapse.