In 2019, the US faced a cash shortage. With cooling inflation, many speculated that the Federal Reserve would halt interest rate hikes.
Rate Cut Predictions & Decrease In Import Prices
Some economists predict rate cuts in 2024. If these projections hold true, the dollar is likely to enter a multi-year downtrend, especially if the Fed transitions into a quantitative easing cycle. At that point, they will have no choice but to do so.
It is important to note that the devaluation of the dollar will have wide-ranging effects. One significant impact is the decrease in import prices. This presents a double-edged sword for US goods.
On the one hand, our products will become more affordable for foreign markets. US goods are typically considered expensive, so this newfound affordability could boost sales.
Financial Losses For US Businesses
On the other hand, consumer habits may remain unchanged, resulting in financial losses for US businesses. Many investors have been anticipating the dollar’s downtrend for months, and it appears to be happening now.
However, it is crucial to remember that we have been deceived in the past. Earlier this year, the currency seemed poised for a prolonged downtrend, only to stabilize when US economic data prompted the Fed to continue hiking rates.
What differentiates this downtrend is the steady inflation rate. If the Fed proceeds with a rate hike in the upcoming meeting, it may delay the slump, but it will resume once inflation remains under control.
Hedge Against The Weakening Dollar
Gold serves as the best hedge against the weakening dollar.
Avoid being unprepared when the greenback depreciates and invest in the yellow metal now with any of our top-rated precious metals and gold IRA companies.
Top 7 Gold IRA Companies
We have thoroughly evaluated and ranked the leading gold IRA companies in the industry to assist investors in identifying the optimal option for preserving and expanding their wealth.
Our assessment encompasses various factors, such as BBB/BCA ratings and complaints, customer reviews, annual fees, selection of precious metals, storage choices, promotions, and buy-back programs.
Here’s our list of the top 7+ gold IRA companies:
1. Goldco: Best Overall Gold IRA Provider
2. Augusta Precious Metals: Most Trusted Gold IRA Company
3. Gold Alliance: Most Affordable Gold IRA
4. Red Rock Secured: Best ROI Gold IRA
5. American Hartford Gold: Most Transparent Fee Structure
6. Birch Gold Group: The Gold IRA Specialist
7. Noble Gold: Most Personalized Service
8. BullionVault: Best Online Gold & Silver Trading Company
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| Company | Reviews | Annual Fees | Investment Minimums (IRA) | Preferred Custodian | Free Gold Kit |
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$180 | $25,000 | Equity Trust |  |
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$0 | $50,000 | Equity Trust | |
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$180 | $10,000 | Equity Trust | |
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$0 | $10,000 | Equity Trust | |
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$100 | $10,000 | Equity Trust | |
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$180 | $10,000 | Equity Trust | |
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$80 | $2,000 | Equity Trust | |
If you want to learn more about how to protect your wealth with gold and silver, you can request a >>>FREE 2023 Information Kit.
About the Author
Stina is an entrepreneur who's passionate about personal finance, investing, and digital marketing. She's been a writer in this space for over a decade.
