Gold and silver prices see gains in early U.S. trading Wednesday ahead of FOMC remarks. Gold last reported is $1074.40 and silver is $14.16.
While precious metals prices have once again been bludgeoned in 2015, central banks and governments continue purchasing record amounts.
Barclays reports that central banks will remain net buyers of gold staying on the same pace we’ve seen over the past several years. Russia and China account for 95 percent of central bank purchases so far this year as both countries prepare for the possibility of global war.
Demand for physical gold in China has increased in recent months over policymakers decisions to devalue the yuan which has created panic in the markets.
As the US stock market erases all gains for this year, investors want to own something tangible that they understand and trust. This is the primary reason we see such demand in global markets even at a time when investors know gold prices could go lower.
We can look for precious metals prices to remain suppressed in 2016 while physical demand continues to set monthly records. Of course if global war breaks out in the Middle East, gold and silver will become unobtainable for working class citizens.
We’ve seen the warning signs this year and it’s time to protect our assets from stock markets losses that appear to be on the horizon.
Give us a call at 1-800-577-3195 to begin the process.
Gold Goliath is not your typical gold dealer.