Black Friday is here, but it’s not too late to snaffle some cool gifts for family and friends – this year the bargain prices will be around for weeks. Retailers, like all of us, have had a tough couple of years and are trying to make up lost ground.
Higher interest rates and high inflation – that’s been the story so far this year; it’s not favoured shopaholics. Consumer sentiment as judged by the University of Michigan’s monthly survey slipped a little in November, to 54.7, down from 59.9 the previous month. Consumers, like investors, seem uncertain which direction the US economy is headed; they are squirreling their money as much as possible, and understandably feel less able to spend carefree.
Yet there are some jaw-dropping deals out there, as retailers try to tempt that Dollar into their cash register. We have a sensible suggestion – why not use your Glint account not just to squirrel money away for that rainy day, but to buy your gifts in gold and not fiat currency, which has lost around 10% of its value so far this year, thanks to inflation? As your paper money has lost (and is losing) purchasing power it’s a great time to spend in gold with Glint! Like all assets, gold has declined in price since the start of the year but by 5%; other assets (including fiat money) have stumbled rather more. With Glint you can send Dollars, Sterling, Euros (and gold, too, currently only outside the US, but we’re working on that) to your loved ones and pals – instantly and at no cost at all, within your own country.
Your paper money is under attack from two directions – prices are going up, and the cash buys you less. The last previous year that people could venture unencumbered out to the stores was 2019; in the subsequent three years the cumulative price rise has been almost 17%. Today’s prices are 1.17 times higher than they were in 2019.
Whether you want to stay warm and shop on-line from home or office, or venture out and mingle, you’ll find our fees are extremely competitive. And if you want to check out how your gold is doing, remember to click the ‘markets’ page in your app; click the graph icon, next to the gold value per oz or g, at the top of the screen, to reveal the daily, weekly, monthly and 1-5 yearly gold charts.
Gold is security. Glint its key.
At Glint, we make every effort to demonstrate a balanced conversation between gold, crypto and fiat currencies when it comes to purchasing power and, while we strongly believe that gold is the fairest and most reliable currency on the planet, we need to point out that it isn’t 100% risk free. While we have seen a steady increase over time, the value of gold can fall, which means that its purchasing power can also decline.
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