Until the crash in 2008, simple investments like your 401k seemed like a safe bet for retirement. But in a slow economic recovery showing ongoing volatility, your retirement plans may be changing. The fees alone on most current retirement plans are enough to get you thinking about other options. Investing in gold is a safe and secure choice for those seeking stability. Continue reading our market analysis
Sprott Asset Management’s Charles Oliver argues that gold and silver prices will make a big turn-around before the end of this year. In a recent interview with The Gold Report, Oliver discusses how gold and silver prices are manipulated by central banks and that prices for both metals are bound to burst due to supply and demand.
Read the interview here to understand the factors supporting Oliver’s argument and learn why he sees gold prices reaching $1,500/oz by Christmas.
Sprott’s Charles Oliver: Gold at $1,500 by Christmas? Kitco.com, Kevin Michael Grace of The Gold Report
The Silver Institute released a new report exploring the factors contributing to increasing industrial demand for silver. According to the report,
silver industrial demand is expected to outpace global GDP growth through 2016.
As advances in silver technology continue to roll out, in addition to the industrial demand that already exists, you can expect that demand to pick up even more so over the next couple of years.
Read the report here:
Silver Industrial Demand Expected to Outpace Global GDP Growth Through 2016, The Silver Institute
Rutgers University released a new report on a recent national survey revealing Americans’ true feelings about current economic conditions. Conducted by the university’s John J. Heldrich Center for Workforce Development, the survey concludes that Americans lack complete confidence in the current and future state of the U.S. economy, despite the media’s claims that we’re on the road to a solid economic recovery.
Read more about the signs exposing the grim reality of the state of the U.S. economy, evident in the struggles and pessimism shared by so many Americans across the nation.
The Changing Face of Temporary Employment, The New York Times
Fed: US consumers have decided to ‘hoard money’, Yahoo! Finance
In a prepared statement delivered this morning at the annual Jackson Hole gathering of Central Bankers, Janet Yellen admitted that the U.S. job market has a long way to go before it fully recovers. Her remarks gave little to no indication of when interest rates will rise and suggested that loose monetary policy will continue as long as growth in the labor market remains sluggish.
Read more about the issues addressed at Jackson Hole here:
Janet Yellen: Job market not recovered, CNN Money
In Jackson Hole, Central Bankers and Easy Money Collide, The Wall Street Journal
The U.S. dollar has lost nearly 39% of its buying power since 2002. The BRICS nations are forming an anti-dollar alliance, and in doing so, have launched a new development bank as an alternative to the Western-dominated IMF. Russia is striking multi-billion dollar deals, such as the recent 500,000 barrel a day oil deal with Iran, completely bypassing the petrodollar, largely in response to Western economic sanctions. More states in the U.S. are realizing the risks to the dollar-based monetary system and the nation’s unsustainable debt, and are choosing to “move towards the gold standard”. Oklahoma now joins Utah in recognizing gold and silver as legal tender, with Arizona, Kansas, Texas, and South Carolina soon to follow suit.
The 117 year old London silver fix comes to an end today. In efforts to reach complete transparency, the new, electronic, auction-based system goes into effect tomorrow, Friday August 15th. The gold fix has similarly been under much scrutiny and is also expected to undergo a transition to a new pricing system later this year.
Read today’s market news to learn more about the changes to the silver pricing mechanism and why silver is a must-have asset for any portfolio:
Top 7 Reasons I’m Buying Silver Now, Casey Research
Gold is trading higher on news that U.S. retail sales fell flat for July and on continuing global economic concerns. Gold last traded at $1,316.28 an ounce, silver at $20.13 an ounce, and platinum at $1,479 an ounce.
Read today’s market news: