Gold News from Morgan Gold

By James O'Dell

Los Angeles, CA. – Morgan Gold - Gold and Silver bullion prices are higher on Friday, with Gold trading above a 7 week high at $1,734.80 an ounce and Silver is trading at a 2 month high of $33.87 an ounce as precious metals extended their post-Fed-meeting rally for a third day. This will mark Gold's best weekly performance since October.

The Commerce Department reported on Friday, that even though the U.S. economy grew at its fastest clip since the second quarter of 2010, it failed to reach economists' expectations of a 3.0 percent rate, and only managed a  2.8 percent annual growth rate. Expectations of a slowing growth rate are what led the Fed on Wednesday to say it would keep interest rates at near zero levels through at least 2014, and left open the possibility of further easing and QE3. Fed Chairman Bernanke said the central bank, which forecast growth to fall between 2.2 percent and 2.7 percent in 2012, was considering additional asset purchases to hasten the recovery.

 "The economy ended 2011 on a fairly positive note, but the composition of growth in the last quarter is not favorable for growth early this year," said Ryan Sweet, of Moody's Analytics. "The Fed is attempting to shield the economy from a potentially more severe recession in Europe," said Sweet. "Even though the economy improved last quarter there are a number of headwinds and a lot of uncertainty surrounding Europe, emerging markets and also U.S. fiscal policy."

Meanwhile, officials from the U.S. and International Monetary Fund (IMF), urged leaders at the World Economic Forum in Davos, Switzerland, on Friday to bolster their crisis defenses. “The only way Europe’s going to be successful in holding this together, making monetary union work, is to build a stronger firewall,” Geithner told the gathering of delegates in Davos.

“The higher the firewall, the less it will have to be used,” said French Finance Minister Baroin, while Spanish Economy Minister Luis de Guindos, said a firewall “has to be big enough and flexible enough to avoid using it.” EU Commissioner Olli Rehn said an agreement on the debt swap could happen over the weekend. 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. 

 Stay in touch with Morgan Gold's latest news by clicking here Face book and Twitter. Please join us today and become a fan and a follower.

(Click here to find out more)