Rich Checkan: Gold Investors Will Get Back in the Game When This Happens

TL;DR

In this interview with Rich Checkan, President and CEO of Asset Strategies International, he discusses gold and silver demand, market trends, and the potential impact of Central Bank Digital Currencies (CBDCs).

Transcript

thank you I'm Charlotte McLeod with investingnews.com and here today with me is Rich checking president and CEO of asset strategies International thank you so much for being here happy to be here thanks for having me really nice to me talking to you and I thought just since it's our first time speaking if you could tell me a little bit about your b... Read More

Key Insights

• 🤑 Demand for bullion remains high, driven by investors seeking the most metal for their money with minimal premiums.
• 🤘 The Perth Mint certificate program offers a unique government-guaranteed precious metal storage program allowing investors to purchase Australian precious metals.
• ☠️ A rate increase by the Federal Reserve is expected, after which investors are likely to enter the market.
• 🪡 Checkan emphasizes the need for fiscal responsibility from Congress to address overspending and reduce reliance on the Federal Reserve.
• 🎮 CBDCs are concerning as they would give governments complete control over individuals' finances and compromise privacy.
• 🚄 The current bull market in gold is expected to last until the late 2020s, with a doubling of the previous high predicted.
• 🏅 The relationship between the dollar and gold is vital in understanding the future price trends of gold.
• 🤨 The new payment system, FedNow, is welcomed, but the potential inclusion of CBDCs raises concerns.

Questions & Answers

Q: What has been driving the demand for gold and silver this year?

Investors are primarily interested in bullion as they seek to acquire the most metal for their money with minimal premiums. Financial planners and concerns about the economy also drove demand in the first quarter.

Q: How does high premiums affect demand for precious metals?

High premiums can deter investors from purchasing precious metals. However, there are still products available at reasonable premiums, and it's vital to work with a trustworthy dealer who can provide the best options.

Q: What is the outlook for gold prices in the near future?

Checkan believes that gold prices will see further increase as the Federal Reserve completes its rate hikes and pauses. He predicts a doubling of the previous high and expects the bull market to last until the late 2020s.

Q: What are the potential implications of CBDCs?

Checkan expresses strong reservations about CBDCs. He believes they would lead to complete government control over finances and compromise privacy. He hopes for meaningful protections in the new payment system.

Summary & Key Takeaways

• Checkan mentions that the demand for bullion is high, driven by investors looking to get the most metal for their money with the least premium. The first quarter saw increased demand, but sales dropped off in the second quarter due to investor confidence in the Federal Reserve.

• He also talks about the Perth Mint certificate program, which offers a government-guaranteed precious metal storage program. This program allows investors to purchase Australian precious metals while addressing leasing costs and providing full insurance at market value.

• Checkan believes that another rate increase by the Federal Reserve is likely before investors enter the market. He also emphasizes the need for fiscal responsibility from Congress to address overspending.

• He expresses concerns about CBDCs, stating that they would give governments complete control over individuals' finances and compromise privacy. He hopes for meaningful protections in the new payment system.