By James O'Dell
July 19, 2012, Los Angeles ? The price of Gold rallied in electronic trading and at the time of this writing, is trading at $1,590.70 an ounce after easing 0.59 percent or $9.30 to close at $1,572.70 an ounce on Wednesday, as the dollar strengthened, following the release of the Fed?s latest Beige Book to little fanfare. Silver dipped 0.48 percent or $0.13 to close at $27.14 an ounce, while the Gold/Silver ratio edged down to 57.95, as Silver outperformed Gold.
Diane Swonk, of Mesirow Financial, in a Bloomberg interview, said on Wednesday that ?Overall, the[Beige Book] report is tepid. It really echoes what the chairman has been telling us for the last two days, and that is that economic outlook is not looking too great. The economy has slowed.?Yet, no matter how often Bernanke repeats the fact that the economy is dragging, it's still not quite bad enough to launch QE3, not just yet, anyway.
Meanwhile, according to the World Gold Council (WGC), Gold bullion, as an investment, is set to benefit in the U.K. from new legislation designed to protect the retail investing public. Because Gold bullion is generally considered to be a long term investment or store of value, it doesn't generate continuing commissions, like many investments, so financial advisors rarely make investors aware of Gold?s ability to preserve wealth. Gold bullion is normally bought and owned for a long time, and used primarily as financial insurance, and many times passed onto children.
WGC's Managing director of investment Marcus Grubb, says: ?These extremely challenging times mean it?s impossible to quantify the risks for UK investors. They are facing an unprecedented combination of threats to their assets including extreme and unexpected market shocks that can trigger widespread value destruction.?
The new legislation will make it easier for investors in the U.K. to diversify their portfolios by adding in physical Gold and Silver. ?In this context, an urgent reappraisal of how to protect and create wealth is required and our latest research reinforces Gold?s credentials as a core portfolio asset which reduces losses and preserves wealth,? said Grubb. Don't leave your assets unprotected during these times of economic and geopolitical uncertainty, invest in physical Gold and Silver bullion and protect your wealth.
You can browse and buy Gold and Silver bullion coins and bars quite easily at Morgan Gold and they can be stored in a safe-deposit box if needed. Join our 38th Director of the U.S. Mint, and Morgan Gold?s newest member, Edmund C. Moy, and?? add physical Gold to your IRA Today.??
Hear Mr. Moy, now representing Morgan Gold, speak on Gold and your retirement. Let our team at Morgan Gold help you diversify your portfolio today by calling us Toll Free at 1.800.585.1773. We assisted Mr. Moy in setting up his Gold IRA retirement account, and he liked us so much?he joined us. We hope you will too.? Let us start you in a new Self Directed IRA Today. Click here, 2012 Gold forecast, for Mr. Moy?s latest predictions for physical Gold.
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Source: http://www.morgangold.com/news/20120719-feds-beige-book-released-while-gold-gets-boost-in-uk.html
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