Gold News from Morgan Gold

By James O'Dell

Los Angeles, CA. – Morgan Gold - The price of Gold has extended its post-Fed-meeting-rally into Thursday and is currently trading at $1,724.60 an ounce With Silver tracking Gold higher and trading at $33.49 an ounce after the Fed announcement on Wednesday to put the first interest rate increase since June 2006 on hold until at least the end of 2014, even as the economy has been showing signs of picking up speed in the new year.

The revelation hammered the U.S. dollar which is now trading lower against the euro as well as the other major currencies.  Bernanke's comments also heightened expectations for yet another round of quantitative easing, better known as QE3. "The framework makes very clear that we need to be thinking about ways to provide further stimulus if we don't get improvement in the pace of recovery and a normalization of inflation," said Bernanke at his news conference following the FOMC meeting.

The Fed Chairman makes it clear that aside from an unlikely jump in inflation or the U.S. economy suddenly taking off, Bernanke and the Fed will be looking for ways to do more to help, which is code for printing more money. "Probably the main take-away from the press conference is the sense conveyed by Bernanke that it would not take much of a disappointment in growth or inflation to get the Fed to start another round of QE," said Michael Feroli, chief U.S. economist at J.P. Morgan.

Others saw it as more clear-cut, “It was an unambiguous, aggressive statement,” said Julia Coronado, chief economist for North America at BNP Paribas. “My expectation is that we are going to get quantitative easing three in April,” said Coronado. A majority of economists doing business directly with the Fed, expect the central bank to commence another round of quantitative easing, according to a Reuters poll following the Bernanke news conference.

Several top investors have also taken a position, with Bill Gross saying last month that any QE3 would be focused on the housing sector, while Keith Wirtz, of Fifth Third Asset Management, tells us to "Brace for QE3 if rates start to move higher on the long end." Don't leave your assets unprotected during these times of economic and geopolitical uncertainty, invest in physical Gold and Silver bullion and protect your wealth in 2012.

Widely recognized Gold and Silver bullion coins and bars can be bought and sold quite readily at Morgan Gold and they can be easily stored in a safe-deposit box if needed. Did you know you can add physical Gold to your IRA?  Hear Edmund C. Moy, former director of the U.S. Mint, now representing Morgan Gold, speak on Gold and your retirement. Call 1.800.585.1773 and let our team at Morgan Gold help you diversify your portfolio today. Ask about our new Self Directed IRA. 

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