After falling 10 percent in 2015, gold opens 2016 with a rally as tensions in the Middle East between Saudi Arabia and Iran escalate. Saudi Arabia cut ties with Iran after Tehran executed a prominent Shiite cleric. Silver begins the new year up 1.2 percent.
Gold last reported a.m. Monday is $ 1071.40 and silver is $13.98.
Saudi Arabia has given Iranian diplomats two days to leave as two Sunni mosques in Iraq were bombed resulting in the killing of an imam on Monday.
Ministry spokesman Hossein Jaber Ansari said, “Saudi Arabia sees not only its interests but also its existence in pursuing crises and confrontations and attempts to resolve its internal problems by exporting them to the outside.”
Iran has opened the door to war by executing Saudi Shia cleric, Sheikh Nimr al-Nimr along with 46 others after being convicted of terror related offenses.
Iran and Saudi Arabia are the primary Sunni and Shia powers in the region and backing opposing sides in Syria and Yemen insures conflict.
Iran’s foreign ministry is accusing the Saudis of “continuing the policy of increasing tension and clashes in the region”. Tehran knew that killing a Shiite cleric would incite violence between the two nations but they weren’t concerned with possible repercussions as they see the Saudis as being weak.
Of course, Washington is appealing for calm and is sending mediators to “instigate”, oops, we mean diffuse the situation.
Meanwhile, ISIS says hello.
Stocks topped and tanked in 2015, nations are preparing for war and investors of precious metals are purchasing record volume into 2016.
It’s not too late to begin the process of protecting your assets with physical gold and silver. Both metals are available for a gold IRA. Call 1-800-577-3195 ext. 2 to begin the process.
Gold Goliath is not your typical gold dealer.