Many bullion investors have been left scratching their heads over the last few years. It has been one immense curiosity that the price of gold has been essentially gagged. What kind of barometer is gold if it cannot seemingly reflect all the eerie economic data and geo-political news?
Interestingly, the day the Swiss pegged their dollar to the Euro was the day gold and silver entered a bear market. Since that time, the US debt continued to rise. The Fed quantitative eased, tightened, and Japan took up the printing baton. Germany attempted to re-patriate their gold, got rebuffed by the Fed, and this month tried again with slightly better luck. The Netherlands repatriated gold. Europe has struggled economically. We have had the rise of Isis and seen the commencement of a war in the Ukraine. Oil, out of the blue dropped and the investment community is still wrapping its head around the reasons and the consequences of the drop.
There are as many reasons to own gold now as there are potential economic risks. Quietly over the last few years China, India, Russia, and common sense investors have purchased bullion. It has been very quiet on the bullion front for a while… until a couple months ago. Switzerland took a big step; Negative interest rates. Now they have taken an even bigger step and de-pegged from the Euro. Ironically the day they did, gold and silver started to break out.
While we do not know where the next black swan event will come from the world in the last few years has become a minefield. Gold and silver are a store of value that in my opinion will protect against the negative impact of such events.
Gold Year to Date
January 1st $1,184.00 USD
January 20th $1,295.00 USD
Silver Year to Date
January 1st $15.56 USD
January 20th $17.93 USD
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