The buzz right now among most investors and virtually every economic commentator is on interest rates. It seems that at this point it's not a matter of if – but when – the Fed will begin raising rates with the majority sensing it may happen sometime between September, 2015 and Q1 2016. The last time the Fed raised rates was nearly 10 years ago in June of 2006. So needless to say, it's been a while since we've seen this shift in policy, and at this point there are a lot of guesses on how the economy and various markets will react.
The Internet is full of apocalyptic stories about the US economy. If you believed everything you read you would think that the US dollar is about to be dethroned, our debt situation will get out of control, and hyperinflation will ensue. But as Adam Smith once said, "there is a great deal of ruin in a nation." What Smith meant is that economies can absorb quite a bit of punishment and keep on ticking. Here I'll explain how despite America's very real and serious problems, investors should be skeptical of get-rich-quick schemes suggesting that gold is a good hedge for the turmoil ahead.
Back in February we warned that gold prices were projected to fall in 2013 & 2014 and we offered possible exit strategies to sell your gold.
Rare Coin Wholesalers (RCW) announced the release of their latest article, "Gold Prices and Inflation Fears." In the article, Dr. Scott Sumner, economist and writer for RCW, claims that the internet is full of commentators predicting high inflation, and they are using that argument to sell gold. He explains that since July 2008 inflation has averaged only about 1.2%, the lowest rate over any similar period since the mid-1950s.
Gold has had its biggest sale by investors on record and its worst start to a year in a quarter century.
Today, gold fell to $1,564.60, its lowest level in seven months! Since a year ago, events have shifted incentives towards strengthening the U.S. dollar.
Gold futures fell to $1,596.70 today at 11:06am EST.
From all accounts Ken Wing was a typical kid. Born in 1930, his childhood invariably revolved around World War II.
A one-of-a-kind California Gold Rush coin will return to Baltimore for the first time since it was sold by The John Hopkins University more than a quarter century ago.
A one-of-a-kind California Gold Rush coin, preserved for years by one of Baltimore's most prominent families, will return here next month for the first time in nearly 30 years.
