“Gold Update” – Gold Goliath

Posted on :Aug 20, 2014

Gold last reported is $1295.20 down 50 cents and silver is $19.56 up 13 cents.

Federal Reserve Open Market Committee minutes are due to be released this afternoon. We can expect more double-talk that explains nothing and is only being given in attempt to confuse speculators and investors.

Economic and political turmoil have become the norm and it appears this is the course we will be remaining on for some time. Washington is too busy vacationing to be concerned while the Fed and Wall Street cook numbers to convince the average U.S. worker that all is well and market gains will only get better.

High unemployment coupled with low-wage part time jobs is a recipe for economic disaster and mere words from bankers and politicians can only forestall the inevitable.

While geopolitical turmoil should be pushing precious metals to higher levels just the opposite is happening. As the world prepares for war gold seems to be sitting on the sidelines ignoring reality. This is happening for two continuous reasons. One, the Fed and bullion bankers continue shorting gold futures suppressing prices and two, speculators fear losing money short-term.

Our nation has never endured more perilous times that what exists today. When corruption abounds slavery soon follows. Sadly, the average American thinks all is well.

Gold Goliath is not your typical gold dealer.

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