Gold continues making gains in early US trading Wednesday nearing a 7 week high on tensions in the Middle East coupled with weak Chinese economic data. China is the worlds second largest economy and is actually in worse fiscal condition than the US. This being said we aren’t saying the US economy is doing any better. The global economy as a whole remains in a period of stagnation.
Gold last reported a.m. Wednesday is $ 1091.80 and silver is $14.02.
Precious metals are ending their third year in negative territory but this is not swaying investors who continue purchasing record amounts of gold and silver. If precious metals need a perfect storm to regain what should be “realistic” spot prices, it appears we are heading in the right direction.
It’s important to remember that gold and silver are always beneficiaries of political and economic upheaval and the stuff is hitting the fan around the globe.
In attempt to maintain a sense of market normalcy, the Fed will eventually usher in another round of quantitative easing and this could possibly take place as early as this year. Like the previous 3 rounds, it will only worsen our situation. QE rounds one, two, and three never made it to main street and were never intended to do so. America’s “Big Six” banks were clearly the recipients.
It’s not too late to protect ourselves from what appears to be coming losses in the stock markets for 2016. Gold and silver are available for your IRA. Don’t miss out on ridiculously low prices while they last.
Call 1-800-577-3195 ext. 1 to speak with one of our sales associates.
Gold Goliath is not your typical gold dealer.