Gold Fix To Be Set By Four Banks Silver By Two Tangible Investments and GoCoins.com buy and sell rare coins, precious metals, fine art and jewelry.   BBB - Better Business Bureau
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Gold Fix To Be Set By Four Banks Silver By Two
Posted April 29th, 2014

TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - The gold price eased below the key $1,300 an ounce level for a second straight day on Tuesday in choppy trade and is currently hovering around $1,295.50 an ounce while Silver dipped slightly to $19.49 an ounce despite mounting tensions between the U.S. and Russia over the crisis in Ukraine.
 
The market remains focused on the Fed's two day policy meeting which ends Wednesday, and are expecting the central bank to scale back its bond purchases another $10 billion each month. The April cuts would reduce the Fed's monthly bond buying program to $45 billion, that is unless policymakers decide not to taper, in which case gold would most likely have a tremendous rally.
 
Deutsche Bank announced on Tuesday that due to the lack of a buyer, it has resigned the seat that it has held on the London precious metal fixes for more than two decades. The gold fix is a benchmark used across the industry that is set twice each market day by five banks, soon to be four, but it will leave only two banks to set the silver benchmark. Deutsche Bank's departure leaves Barclays, Bank of Nova Scotia, HSBC, and Societe Generale to set the gold benchmark, but just Bank of Nova Scotia and HSBC to set silver.
 
Meanwhile, Dave Rosenberg, of Gluskin Sheff and Associates, said on Tuesday that investors should make sure that they have some gold in their portfolio as he is expecting inflation to push higher in the near future. Rosenberg said that he expects inflation to climb as central banks around the world, like the Fed, no longer pursue policies of price stability, but prefer to allow inflation to rise to support a recovering economy. “Gold… as an inflation hedge does well during periods when policy rates are being held in negative territory in real terms, which (Federal Reserve chair) Janet Yellen seems to be foreshadowing,” says Rosenberg.
 
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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