Los Angeles CA, June 23 (Tangible Investments) - by James O’Dell - Gold and Silver prices were mixed on Friday with Gold easing $10.25 or 0.77 percent but still finishing the week higher for a third week in a row at $1,314.60 an ounce, while Silver added $0.09 or 0.43 percent to close at $20.88 an ounce, as the Gold/Silver ratio fell to 62.96.
Geopolitical tensions in the Middle East and Eastern Europe continue to buoy the safe haven appeal of Gold, as "hard" assets like bullion find favor during times of political and economic uncertainty. The Islamic State of Iraq and Syria-led (ISIS) militants pushed closer to Baghdad over the weekend after gaining control of Iraq's western border crossings into both Syria and Jordan.
The brutal insurgents are now better positioned to transport stolen armaments, and fighters across the borders with 90 percent of the Sunni dominated Anbar province having fallen into the hands of rebels in the span of just two days as the Iraqi military laid down their arms and fled.
Meanwhile, it appears that Russia is once again moving tanks and other arms toward the Ukraine border, as leaders in Kiev continue to struggle to contain the armed separatist uprising paralyzing the nation. “We have information that Russia has redeployed significant military forces to its border with Ukraine. Some of these forces are within a handful of kilometers of Ukrainian territory — the closest that they’ve been since the invasion of Crimea,” said a U.S. official, who spoke on the condition of anonymity.
"There are a lot of reasons investors should own Gold," says Donald Doyle, of Blanchard & Co. The geopolitical uncertainty that exists today "illustrates the metal's qualities as insurance when governments clash." The yellow metal finished second to real estate in an April Gallup poll that ranked Americans favorite long term investments. 24 percent of responders picked Gold as their favored long term option.
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