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October 21, 2009

October 21, 2009 – Gold and silver prices reacted strongly to a Federal Reserve survey that was released today, which is hard evidence that consumers do not put the bulk of their trust in our current policymakers. The Fed’s survey shows that improvements in the housing and manufacturing sectors have sparked the early stages of what they call the US economic recovery. Most objective media outlets however, have regularly reported on our unemployment levels that have risen due to the sputtering manufacturing industry. They’ve also detailed how foreclosure and default levels had spiked uncontrollably with no signs of letup. Maybe I’ve accidentally been watching tapes of the evening news from the 1970s, because I have heard an awful lot about stagflation, too.

The Fed’s survey did come clean in a couple respects, which boosted gold and silver prices substantially this afternoon. Our real estate market and consumer spending are still in a dire state, and could devolve further. The Fed said that the commercial real estate market looks to remain dismal for some time, and all 12 regions of our nation registered as "either weak or deteriorating" in the Fed’s survey. Consumer confidence and spending has remained weak throughout our recession, due in large part to rising unemployment, falling incomes, and the lack of readily available credit, even for qualified investors.

Investors who would like to control their own financial future are encouraged to invest in privately held, liquid precious metal assets. Global liquidity ensures that the investor never loses buying power, and the security that comes with holding your investment privately is unmatched by bank accounts, bonds, or ETFs. Gold and silver provide these benefits, which means that owners of these metals are protected if our traditional markets falter any further. Gold is presently valued at $1060.80 per ounce, and physical silver investments are trading based on a $17.72 spot price at 3pm EST. 

Shannon King

Senior Staff Writer – GoldSilver.org

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