Asset and Wealth Protection
The Federal Reserve and the European Central Bank had both given the go-ahead for higher gold prices… until Ben Bernanke’s testimony before Congress and a key announcement from the Federal Open Market Committee brought about a swift reversal.
Oil as a commodity has always been a highly valuable early warning indicator of economic instability. Every conceivable element of our financial system depends on the price of energy. High energy prices derail healthy economies and completely decimate systems already on the verge of collapse. Oil affects everything.
The price of gold rose on February 28, as a drop in the value of the American dollar coupled with gains made by the euro pushed the precious metals market skywards.
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The price of gold rose for a second straight day on February 21, as a rally in the euro spurred by an agreement between European finance ministers and Greece helped to boost the value of the precious metal.
Steve Forbes — renowned businessman, editor, publisher and head of wealth magazine Forbes — knows a thing or two about money, and he said at a recent speaking event that he has a cure for the economy: a gold standard.
The price of gold held near 11-week high levels as the metal benefited from investor expectations that U.S. monetary policy will remain ultra-loose boosted traders’ appetite for the safe-haven metal.
On Jan. 23, the Chinese New Year began; it is the year of the Dragon. A symbol for good fortune and change, the dragon also stands for progression and perseverance. Given the fact that China has become such an important driver of global growth, it would certainly be good to get a little help from the dragon this year.
The Federal Reserve issued a statement on Wednesday saying that the economy of the United States has experienced moderate growth, despite slowing global economic growth, since the central bank’s Federal Open Market Committee met last month.
On Tuesday, the International Monetary Fund said that it predicts slowing global economic growth and a rising risk of global economic calamity if governments fail to act appropriately.