Gold is one of the few efficient ways to protect capital
Stansberry Research recently interviewed Randy Smallwood, CEO of Wheaton Precious Metals and chairman of the World Gold Council (WGC). They discussed the recent gold purchases by central banks, the Fed's interest rate policy, as well as the importance of holding gold under the current conditions.
The Federal Reserve recently approved the fourth rate hike in a row, this time one of 75 points. Moreover, the US dollar has been getting stronger all year as the Fed remained hawkish.
Randy Smallwood thinks that this situation can push investors to pay more attention to precious metals. As the Fed keeps manipulating the dollar with its aggressive interest rate policy, investors should look for alternatives that are healthier and non-politicized: something that can't be manipulated or used as a weapon by governments.
Smallwood believes that gold is one such good alternative – a stable repository of value. It's not subject to any political interference. Gold has always helped to protect the interests of the society – and will continue to do so.
The expert also spoke about a possibility of a strong upward price move. The current extreme volatility isn't about to go away, and as the US dollar is very strong, there aren't many alternatives to it. Gold is one of the few options, so it has good chances to resume growth.
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