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Gold Price Surges On Growing Geopolitical Concerns
Posted March 11th, 2014

TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - The Gold price surged on Tuesday climbing to $1,347.88 an ounce, while silver traded flat at $20.84 an ounce, as the growing crisis in Ukraine and fears of a slowdown in China's economy have spurred an increase in safe-haven demand for gold. "There is still a good deal of safe-haven bidding in the market on Ukraine and any possible Russian response and that's helping get beyond that crucial $1,350 technical and psychological level," said Mitsubishi's Jonathan Butler.

 "These levels we can see some profit-taking but also some new investor positioning as part of geopolitical concerns that link into that demand for safe assets."
 
In China, the China Gold Association (CGA) announced on Tuesday that gold demand for first quarter 2014 is expected to fall 17 percent below the first quarter of 2013, and yet 2014 annual demand will remain unchanged at 1,176 tons, said HSBC. “A simple math calculation based on Mr. Zhang’s forecast would indicate that China’s gold demand should be stronger for the rest of 2014 after 1Q, when compared to the same period in 2013. This may indicate that China’s strong appetite for gold is likely to be sustained well into 2014, in our view,” added HSBC.
 
The Federal Open Market Committee (FOMC) meets next week, and since the meeting comes on the heels of a moderately upbeat non-farm payrolls report, expectations are that the Fed will taper its quantitative easing (QE) program by another $10 billion this month to $55 billion. Fed Chair Janet Yellen acknowledged last week that the economy is running short of the central bank's objectives, and pledged to do all she that could to insure maximum employment and stable prices. "We have come a long way, but we have farther to go," said Yellen, after succeeding Ben Bernanke last month.
 
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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