Gold Still Holding Gains – Gold Goliath

Posted on :Jan 14, 2015

Gold is holding Tuesday’s gains and moving slightly higher today. Gold spot as of this morning is $1238.00 up $3.00 and silver is $16.98 down 20 cents.

Economic concerns in both the U.S. and Europe continue leading investors into safe-haven assets like gold and silver. U.S. retail numbers came in down 0.9 percent in December and were forecast to  come in around 0.1 percent.

The World Bank released its outlook for 2015 and estimated global economic growth at 3 percent this year down from 3.4 percent as earlier projected. European stock markets are being pressured by a court ruling approving quantitative easing. It appears that nations are determined to depreciate their currencies following the Federal Reserve’s lead.

The Federal Reserve reported Tuesday that raising interest rates would be a bad idea for 2015. Of course this means no return on savings accounts etc. and it also means Washington can continue scraping enough money together to make minimal payments on U.S. debt.

The next major data coming in for investors will be the January 22, meeting for the European Central Bank. As earlier stated regardless of the rhetoric, money printing will continue full steam ahead.

Growth fears are keeping markets busy with questions of inflation and deflation. Central bankers have created an economic nightmare and are now beginning to pay the price for losing control of their own game.

One can only speculate as to where gold and silver prices will be throughout 2015. We know gold demand will remain strong due especially to China and India accounting for around 100 percent of newly mined gold. Silver saw record demand in 2014 and will more than likely continue moving higher due to increased industrial and investor demand.

Russia continues buying gold for its reserves as it seeks to solidify its position as a major player in Europe. Despite Washington sanctions, Russia can impose tremendous financial damage on western economies by simply restricting gas and oil supplies. Russia will not bow down to western bankers.

Precious metals do well in turmoil and turmoil is basically everywhere we look today. Europe, the Middle East and the U.S. all have one primary thing in common. Everyone is functioning off of perpetual debt and magic money printing. As COMEX and LBMA continue shorting gold futures suppressing gold prices we may see price stagnation throughout 2015. Kicking the debt can down the road only lasts for so long and then it’s time to pay the piper.

Regardless of market manipulation we need to remember that gold and silver along with other precious metals insure that we cannot be wiped out financially. In an era of global market fraud we can’t afford to be without it.

Contact Gold Goliath for any questions you may have concerning gold and silver prices.

Gold Goliath is not your typical gold dealer.

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