The price to invest in Gold dipped modestly on Thursday to $1,594.20 an ounce, while the price to invest in Silver eased to $28.34 an ounce, even as more Americans filed new claims for unemployment benefits last week, when initial claims grew by 16,000 to a seasonally adjusted 357,000, as reported earlier in the day by the Labor Department.
In the meantime, central bank efforts to accomplish more than just controlling inflation, may be bullish for Gold, according to a report by HSBC. The banks’ Stephen King reports that central banks are now being tasked to not only oversee monetary institutions as they keep a lid on unemployment, but the banks are coming under increasingly more intense political pressure to bolster economic growth, even at the expense of higher inflation.
“The picture painted by the macroeconomic team could serve as a cocktail for higher Gold prices,” says HSBC's Jim Steel. “An increased tolerance for inflation, an escalation in currency wars, the pursuit of many possibly contradictory goals by central banks and a possible disconnect between monetary policy and economic reality appear to us to be good reasons for investors to shift to hard assets, including Gold.”
Meanwhile, Cypriot banks opened at noon on Thursday, and operated for only six hours, while scores of armed guards roamed the capital, Nicosia, keeping watch over the long lines of anxious depositors gathered outside Cypriot banks, hours before the oft delayed opening. “Although the Cypriot situation will likely fade from the headlines over the course of the next month, the unusual circumstances behind the country’s rescue will likely linger for some time longer,” said Edward Meir, of INTL FCStone.
What occurred in Cyprus will not soon be forgotten by depositors around the world. Waking up to find your bank closed, and your government deciding how much of your life savings to confiscate, puts a little finer point on the fact that those holding physical Gold and Silver had no problem with their cash flow like those holding paper. Protect your wealth and your retirement during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver in 2013.
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GOLD CURRENT TRADE
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Our Position
Bought 1Apr Gold on 25/03/2013
Entry: 1592
Stop : 1578
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SILVER CURRENT TRADE
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Our Position
Bought 1May Silver on 25/03/2013
Entry: 28.60
Stop : 28.00
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
