“Gold Hits Two week High On Monday” – Gold Goliath

Posted on :Mar 23, 2015

Gold and silver continue making gains on Monday after three days of consecutive gains last week. The U.S. dollar index saw heavy losses today forcing investors back into gold as a hedge against the dollar. Gold last reported p.m. is $1189.80 up $3.90 and silver is $17.01 up 8 cents.

The central government of China is opening up its gold markets by allowing more participants to trade. China began offering international institutions access to Yuan denominated gold contracts in Shanghai’s free trade zone last September. The Shanghai Gold Exchange plans on beginning a Yuan denominated gold fix this year to further strengthen its role in global precious metals pricing. According to the World Gold Council, China is the second largest consumer and largest producer of gold in the world.

In 2014, the WGC reported that India overtook China as the biggest gold buyer but China may actually be purchasing 30 to 40 percent more gold than World Gold Council records show. Official WGC records show India’s gold demand in 2014 was 842.7 tons while China’s numbers fell to 813.6 tons. It’s well known that China purposely hides actual gold numbers including gold produced in the country.

Greece continues flaming the reparations scheme pointing out that after the nations defeat in the second world war , Germany received one of the largest bailouts in modern history. Previous Greek governments have brought up the issue of reparations but the new Tsipras government is sticking to its guns. To date, Germany is dismissing these demands claiming compensation issues were settled decades ago in post war accords.

Greece has received billions in euro loans from the EU and the International Monetary Fund since early 2010. Germany, being the only nation in Europe with a stable economy has continually pressed Greece to cut back on government spending to bring its finances under control. While Germany asks Greece to implement real fiscal measures to stabilize the countries economy, all Greece can come up with is, “someone owe’s us money and Germany your’e it.” Reparations are not a substitute for a healthy economy and Greece is going to learn this lesson the hard way.

Exciting times as we witness the end game of the grand EU experiment.

Gold Goliath is offering special pricing on 1 oz. silver bars suitable for your IRA. Silver is being offered below production costs while global demand hits record levels. Now is the perfect time to protect a portion of our assets with physical precious metals. Call 1-800-577-3195 for details.

Gold Goliath is not your typical gold dealer.

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