Philip Diehl, the current president of US Money Reserve recently voiced his opinions about the state of gold in a podcast. Diehl views gold as a great long-term investment that people can use as a hedge against political instability in the world. Over the past several years four major factors have affected the value of gold.
First and foremost the financial collapse of 2008 sent investors piling in to gold as they were looking for somewhere same to put their money. Around the same time gold ETFs were created which helped add liquidity to the gold market, and at the same time, contributed to a rise in gold sales.
The rise in the dollar has also led to a rise in demand for gold from other countries. In particular, China and India have accounted for 65% of recent gold purchases. The final factor that has influenced the recent gold market has been speculation taken by investors on US monetary policy.
However, these events have all come to pass. Going forward Diehl sees a few major events that will likely have a noticeable impact on gold prices. The growing middle class, but more importantly the growing middle class in BRIC countries, combined with increased political instability could lead to a major increase in gold.
Another big potential event that could drive the price down and thus fuel demand would be the eventual decline of the US dollar. Diehl believes it is only a matter of time until this occurs, because what comes up must eventually go back down. When this happens the sinking dollar will take the price of gold right back down with it which will lead to an excellent buying opportunity for investors.
However, serious investors should not be too concerned with these events. Gold should be held for the long-term, in order to act as insurance in the case of political instability.
Diehl suggests that those interested in learning more could speak to a US Money Reserve gold specialist in order to get expert, up-to-date information on the topic. US Money Reserve is the largest distributor of United States government issued gold, silver, and platinum coins. This means that the weight and purity of each coin is guaranteed by the biggest economy in the world. This gives customers peace of mind that they may not be able to achieve with overseas distributors, some of whom have recently been caught selling counterfeit gold rounds.
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Philip Diehl is currently the president of US Money Reserve, the largest distributor of government issued gold, silver, and platinum coins. Prior to this position he worked as the director of the US Mint. While working for the largest producer of bullion coins Diehl worked hard to significantly improve the government organization. While it was the largest producer in the world when he got there, its distribution and service were areas in which it was clearly lacking. Diehl’s entrepreneurial spirit led the US Mint to developing distribution on every continent, including Antarctica. Furthermore, Diehl continually stressed the importance of good service to those he worked with. This eventually led to the Mint being ranked among top private businesses for customer service.
Diehl’s experiences with the federal government transferred well to his role at US Money Reserve. He maintained his focus on customer service in his new position which had a company-wide impact. The excellent service was seen not just with the sales staff, but with the back office workers as well. US Money Reserve provides the best return policy in the industry to ensure that their customers are satisfied. Diehl is confident in this due to the fact that he serves on three industry boards and is thus very familiar with his competitors.
Aside from setting itself apart with superior customer service US Money Reserve offers something else many others can not, peace of mind. All of the gold, silver, and platinum coins that come from the company are certified in weight and purity by the US Mint. Their value is also backed by the world’s number one economy. Those buying from other sources risk receiving counterfeit pieces as has happened recently from several overseas distributors. The rounds of gold purchased from overseas were extremely sophisticated counterfeits which could fool almost anyone.
Diehl recommends buying bullion coins rather than gold bars or other forms for a couple of reasons. The first being that the coins are certified legal tender whereas other forms are not. The weight and purity of these other forms of precious metals is also never guaranteed. Bullion coins also come with the backing of the US Mint to ensure that a customer is getting exactly what they pay for.