Now Entering Best Season For Gold
August 8, 2012
By James O'Dell
August 8, 2012, Los Angeles – Gold bullion prices rose for a third day in a row, gaining 0.03 percent or $0.50, to close at $1,611.30 an ounce on Tuesday, as investor hopes, that central banks in the U.S. and the euro zone will launch another round of stimulus, are currently driving the rise in precious metals prices. The price of Silver advanced 0.83 percent or $0.23 to close at $28.06 an ounce, while the Gold/Silver ratio fell to 57.42, as Silver outperformed Gold.
Boston Fed President Rosengren continued to suggest the need for additional quantitative easing in an interview with CNBC on Tuesday saying, the economy is “only treading water,” and the central bank should launch an open-ended asset-purchase program to spur demand.“The GDP reports have been disappointing, [and] my expectation is the second half of the year won’t be much better.”
Rosengren's call for “a much more accommodative policy” indicates his growing concerns over the lagging recovery. “His decision to speak out forcefully is a sign of the momentum building inside the Fed for a new phase of action. A bond-buying program, also known as quantitative easing, would aim to drive down long-term interest rates, drive up stocks and push down the value of the dollar, which many officials believe would spur activity,” said Jon Hilsenrath, of The Wall Street Journal.
Some see quantitative easing, as merely another name for monetizing the debt, or simply put, printing more money, thus allowing the Fed to purchase more government debt, but it tends to increase inflation when the (GDP) is falling as it is currently. "Gold is still looking promising in the second half, with peak physical consumption season on the horizon and more quantitative easing from the U.S. Fed still in the cards," said Li Ning, of Shanghai CIFCO Futures.
Meanwhile, it's that time of the year again during which, over the past ten years of Gold's bull run the price of Gold has seen an average increase of 11.3 percent. So, if the price of Gold is going to take off on another record setting run, now would be the perfect time of the year for it to start. 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.
You can browse and buy Gold and Silver bullion coins and bars quite easily at Morgan Gold and they can be stored in a safe-deposit box if needed. Join our 38th Director of the U.S. Mint, and Morgan Gold’s newest member, Edmund C. Moy, and add physical Gold to your IRA Today. Hear Mr. Moy, now representing Morgan Gold, speak on Gold and your retirement. Let our team at Morgan Gold help you diversify your portfolio today by calling us Toll Free at 1.800.585.1773.
We assisted Mr. Moy in setting up his Gold IRA retirement account, and he liked us so much…he joined us. We hope you will too. Let us start you in a new Self Directed IRA Today. Click here, 2012 Gold forecast, for Mr. Moy’s latest predictions for physical Gold. Get your Gold IRA today and stay in touch with Morgan Gold's latest news by clicking here Facebook and Twitter. Please join us today and become a fan and a follower.