Gold last reported today p.m. is $1155 up $2.70 and silver is $15.59 up 17 cents. The U.S. dollar index saw a pullback today from its 12 year high and the Euro is up today from yesterday’s 12 year low. Gold fell to its lowest level since December on Wednesday at $1147.10 per ounce but today snapped 8 days of losses.
The U.S. economy continues to show signs of strain as retail sales fell for a third month in a row February. Retail sales dropped 0.6 percent as receipts fell in most categories. February was the first time since 2012 that retail sales had dropped three consecutive months. Automobile sales fell 2.5 percent, the largest drop over the past 12 months. Building material and garden equipment sales fell 2.3 percent, the largest drop since May 2012. U.S. workers are in desperate need of full-time jobs as approximately 93 million stand on the sidelines waiting for an employment opportunity.
The U.S. economy will not grow without jobs regardless of “feel good” numbers put out by the Bureau of Labor and Statistics. Our problem is not the “cold weather”, as mainstream media touts.
Cash strapped Greece signed a bill today allowing the government to gain access to pension funds. Bloomberg reports, cash reserves of pension funds and other public entities kept in Bank of Greece deposit accounts can be fully invested in Greek sovereign notes the country’s finance minister said in an email statement.
Cash reserves can be used for repos, reverse repos, buy and sell back, sell and buy back transactions. Pension funds and public entities will be able to claim damages from Greek state in case of overdue repayment or partial repayment. We knew it wouldn’t be long before the new government forced its way into citizens pockets. Going after Germany’s money will make hero’s out of Tsipras and his new government but going after working class money will get them fired, quartered or possibly burned at the stake.
Please watch for the new Gold Goliath website coming any day. We are now accepting credit card payment through PayPal.
If you are considering rolling an IRA or other qualified retirement account into a gold IRA give us a call. It’s a very simple process for securing a portion of our wealth. Call 1-800-577-3195
Gold Goliath is not your typical gold dealer.