Tangible Investments

September 28


Weekly Gold Market News

Gold Has Important Role In Investor Portfolio

Los Angeles CA, (Tangible Investments) - by James O'Dell - Gold and Silver prices retreated sharply in early trading on Monday, as Gold dipped 1.52 percent to $1,129.30 an ounce, after easing $8.60 or 0.74 percent on Friday but still managed to end the week higher at $1,146.80 an ounce, after Fed chairwomanJanet Yellen said the U.S. central bank should start raising interest rates later this year. Silver slid 3.37 percent to $14.60 an ounce, after easing $0.05 or 0.33percent on Friday to close at $15.11 an ounce, while the Gold/Silver ratio inched down to 75.90.

The week began in the aftermath of the Fed's decision to leave U.S. interest rates unchanged following the September Federal Open Market Committee (FOMC) meeting which concluded on the previous Thursday. Edward Meir, commodities consultant at INTL FCStone, says that Gold could extend short termgains now that the Fed has decided, once again, to postpone a rate increase. Meir suggested that the Fed may have “boxed itself into a corner.”

The Fed's decision to leave rates unchanged appears to be based on global developments, particularly in China, rather than the U.S. economy. “What all this means for Gold is that we likely will continue to push higher over the short term, as we do not see the turbulence in the global equity markets being over justyet,” said Meir.

The director of investment research at the World Gold Council (WGC), Juan Carlos Artigas, suggested in an interview last week that investors should look beyond the short term volatility in Gold, as well as the Fed’s near-term monetary policy and focus instead on Gold’s attributes as an asset diversifier.“Regardless of what the Fed does in the next few months, Gold has an important role to play in an investor’s portfolio,” says Artigas. Investor concerns thatslowing growth in China and an eventual tightening of U.S. monetary policy has prompted an increase in safe-haven bids for Gold.

“With the pullback in equities, there’s definitely a flight to quality (assets) right now, it’s going into Treasurys and to Gold,” said Bob Haberkorn, of RJO Futures. The Gold price hit a four-week high on Thursday, and analysts at Capital Economics expect the precious metal to get even more support due topersistent physical demand out of Asia. “We expect total imports by China and India to pick up substantially in the remainder of the year as low prices and alack of attractive investment alternatives prompt additional buying,” said Capital Economics in a research note.

Meanwhile, Fed Chairwoman Janet Yellen said in prepared remarks at the University of Massachusetts last week that "The Federal Reserve remains on track to raise interest rates by year's end." She added that "If the FOMC were to delay the start of the policy normalization process for too long, we would likely end uphaving to tighten policy relatively abruptly to keep the economy from significantly overshooting its goals." The U.S. central bank has not raised interest rates innearly a decade.

It's important to protect your hard earned wealth during these times of economic and geopolitical uncertainty, and at Tangible Investments 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 TangibleInvestments assist you in your next purchase or sale. Tangible Investments is the leading buyer of rare, Gold and Silver coins, art, antiques, diamonds,sterling and flatware. We also loan against anything of value and offer more money at half the loan cost.

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Other News This Week

Gold Rallies Sharply After Disappointing Jobs Report

Los Angeles CA, October 2 (Tangible Investments) - by James O Dell - Gold and Silver prices climbed in early trading on Friday, following the release of the U.S. jobs report, with Gold soaring 1.70... [Read More]

American Eagle Silver Coin Sales Hit Record At US Mint

Los Angeles CA, October 1 (Tangible Investments) - by James O Dell - Precious metals prices were higher across the board in early trading on Thursday, with Gold gaining 0.15 percent to $1,116.80 an ounce,... [Read More]

China Market Turmoil Sparks Massive Gold Buying

Los Angeles CA, September 30 (Tangible Investments) - by James O Dell - Gold and Silver prices were lower in early trading on Wednesday, with Gold retreating 1.24 percent to $1,114.60 an ounce, after easing... [Read More]

Fed Indecision On Rate Hike Weighing On Gold Price

Los Angeles CA, September 29 (Tangible Investments) - by James O Dell - The Gold price continued its retreat in early trading on Tuesday, easing 0.27 percent to $1,129.10 an ounce, after slipping $14.70 or... [Read More]

Gold And Silver Coin Sales Remain Strong At US Mint

Los Angeles CA, September 28 (Tangible Investments) - by James O Dell - Gold and Silver prices retreated sharply in early trading on Monday, as Gold dipped 1.52 percent to $1,129.30 an ounce, after easing... [Read More]

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