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It’s well-known that the Chinese Central Bank has been on a gold buying spree. They have added to their gold reserves for 10 straight months — the most recent report says they now hold 2,165 tons of gold.
And the Chinese people – already the top gold consumers in the world – are also putting more money into gold.
Channel News Asia reports:
“Many jewellery shops are crowded with people who are crazy for gold jewellery,” said Michael Lee, director of a private jewellery company in Shenzhen. “I am so surprised that there is still so much buying interest at such a high price; it’s crazy.”
Gold consumption by the world’s top consumer of the precious metal rose by 16 per cent year on year to 554.88 metric tons in the first half of the year, China Gold Association data showed.
Demand for gold jewellery, which accounts for about two thirds of total gold demand, rose nearly 15 per cent while purchases of gold bars and coins jumped by more than 30 per cent, the data showed.
Many Americans with retirement accounts are now moving into precious metals by backing their IRAs with gold.
In fact, so many Americans are moving retirement accounts to precious metals that some companies have had a hard time keeping up with demand.
Genesis Gold Group a faith-driven precious metals company, has been able to keep up with demand because their executives anticipated the surge and have leveraged their relationships to seamlessly keep the flow of wealth going into their customers’ depositories.
This isn’t “paper” or “virtual” gold or silver; Genesis Gold Group customers can physically see their precious metals at their convenience. And when it comes time to take a disbursement, they can convert to cash or have their precious metals shipped directly to their homes.
Genesis Gold Group was given 5 stars by reviewers on the Better Business Bureau website. Here is what some of them say:
“With the downward turn in the market, I have been wanting to transfer my IRA to gold/precious metals. I am so happy that I came across Genesis Gold Group. They made the process seamless . . . They have knowledge, care, and patience with newbies, like me. They kept me informed along the way and reached out several times to see if I had any questions or concerns. I highly recommend them to anyone interested in investing in precious metals.”
“They made it so easy to transfer part of the funds out of my company 401K to set up a precious metals IRA. Everyone I’ve dealt with there is friendly and knowledgeable.”
“The people at Genesis Gold Group have been very helpful to get my 401k from stocks and bonds to silver coins on deposit. They are patient and explained each step and answered my numerous questions along the way.”
If you have wealth or retirement that you want to protect with physical precious metals backing a self-directed IRA:
Note: The information provided by Gateway Pundit or any related communications is for informational purposes only and should not be considered as financial advice. Gateway Pundit does not provide personalized investment, financial, or legal advice.