“Gold Update” – Gold Goliath

Posted on :Aug 25, 2014

Gold last reported is $1278.40 down $1.70 and silver is holding steady at $19.45.

The U.S. dollar is at an 11 month high and the Euro is at an 11 month low. Investors continue playing musical chairs with depreciating currencies because it has always worked in the past. With foreign nation threatening the dollar they would be wise to consider the fact that things are changing rapidly and the rules have changed.

We expect more straddling of fences between precious metals and fiat currencies as investors seek to minimize their losses while searching for gains.

Geopolitical turmoil continues heating up and foreign nations are testing Washington in a game of chicken. Obviously we have no real leadership in either of the status-quo parties and our allies and enemies alike know this.

We maintain our outlook for gold spot in 2014 to stay in the $1300-$1350 range.

Gold Goliath is not your typical gold dealer.

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