Gold prices are up $40 above last weeks low close. Gold spot price was trading at $1596 this morning Stock futures are up as well. The White House made an announcement on the sequester this past Sunday, urging congress of the harm it would cause the American economy. Silver followed suit with gold. Any investment in precious metals now is good. The only way to secure your financial future vs. Inflation, caused by out of control governments, a crippled economy, and a republican party refusing to work a REAL deal, is precious metals.
Stock futures had a good outlook this morning. Usually when I say stock futures have gone up, gold has dropped. That is not the case I believe gold has started it's climb back up and has no where to go besides up. Gold hit a low last week of $1548. What will Gold do next honestly I cannot say. I would expect gold to slowly rise. Yet with the announcement from the White House and the Republicans refusing to cooperate again. We may see gold skyrocket come March 1st. Silver followed the same path yet not reaching a year low still coming close to a January low.
The President spoke this past Sunday about the effects the sequester will have on Americans.
Urging the Republicans to cooperate. Yet Mr McConnell will not let that happen. I really think he should be fired by the American people. Speaker Boehner as well. They say let the sequester take effect. "Screw them." Another thing to keep in mind, while the republicans keep brushing this off, is inflation. As I began writing this article the Dow was 14,072. Now the Dow is back down to 13,784. With the most recent announcement from the eastern countries. Doubt in Italy and their ability to prevent falling further into debt. Following these announcement gold took a little climb. Yet stocks will likely fall. So now 6hrs later stock futures drop and gold slowly rise.
Inflation is an issue in America. Some statistics say inflation is growing at an equal rate. Yet they are based on a certain array of consumer products. They are not based on the necessities of the average American. We are seeing inflation everywhere. I have noticed it. My pay check just does not cover as much as it did 1 year ago and I'm making more this year. Nothing in my lifestyle has changed. I actually got a car that consumes less gas en my previous vehicle. I have noticed inflation. Have you? Does it seem like your paycheck just don't stretch like it did a year or two ago? Gold value is not subject to inflation. Your $5 worth of gold today could be very well worth $6-$10 tomorrow.
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