Hey everyone! Since the beginning of the year gold has been gaining in value again. It is up almost to $1200 and oz in the last several weeks. Why is this happening? In general terms, you could say that after Trump was sworn into office, there was an excitement and hope in the stock market and among mom and pop businesses across the country that President Trump would return us to more reasonable fiscal and monetary practices, maybe lower our taxes, stop printing so much money, and get the economy moving again with real full time job creation instead of the part time jobs created for much of the last 8 years of Obama policies.
Well, it seems the excitement is starting to boil off as people realize how deep of a hole we dug for ourselves under Obama. The stock markets have retreated lately, which means more folks are piling into gold again.
That is the simplistic way to describe why gold is rising again. If you want a more detailed understanding, read the following article:
- It discusses the drop in the stock market I just mentioned, but also discusses other factors that will push up gold prices in the months ahead:
- Huge gold buyers (hedge funds, or central banks of certain countries) forecasting a spike in demand on the London gold market.
- Inflation starting to show up across the globe.
- The curious and worrisome push for a cashless society in other countries, which will make gold even more attractive.
- China is still buying gold with both hands and its new gold exchange is coming on line. It is a good time to get a gold account! Go to the following link and sign up for a personal account at Goldmoney where you can painlessly acquire gold little by little according to your budget, $5 or $10, or whatever at a time, and have access to it if you need it on a debit card. It is easy and smart!