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Precious Metals Rally On ECB And Crimean Vote
Posted March 6th, 2014

TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold and silver bullion prices rallied on Thursday, with Gold climbing to $1,350.84 an ounce and silver jumping to $21.49 an ounce, after the European Central Bank (ECB) at its policy meeting earlier in the day, refrained from injecting monetary stimulus into the economy, their inaction strengthened the euro against the dollar, and lifted the metals. The ECB also gave no signal that it would be taking the suggestion of the IMF and implementing unconventional measures like quantitative easing (QE) or the reinstatement of its Long-Term Refinancing Operations (LTRO) to avert the threat of disinflation and support the euro zone recovery.
 
In the U.S., weak data continues to reveal an economy that is losing traction, when on Thursday the Commerce Department reported that orders for U.S. factory goods fell more than expected in January, plunging 0.7 percent. Even December's orders were revised downward to show a 2.0 percent fall instead of the 1.5 percent reported initially.
 
Many analysts believe that if the economy continues to slide as it has for most of the first quarter, the Fed may be forced to slow the taper of its QE program from its current pace, this would be gold bullish. The key non-farm payrolls report will be released on Friday and it could be pivotal in determining what policy makers decide at the Federal Open Market Committee (FOMC) meeting on March 18-19.
 
Meanwhile, the conflict in Ukraine deepened further after the Crimean parliament voted unanimously to annex the region to Russia, as investors turned to gold as a safe-haven. "There is a fear of a war and there is a fear of a potential Ukraine default," said Mikhail Kantolinsky, of Uralsib. "The Crimean authorities are inclined to become part of the Russian Federation - Kiev, of course, will be against, and that means that an armed conflict may be inescapable."
 
It's important to protect your hard earned wealth during these times of economic uncertainty, and at Tangible Investments (learn about us here), it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Have you claimed your FREE COIN yet?



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