Gold at 2-Wk High on Data, Demand
Posted by Brian Ford on April 14, 2014
The physical gold investing spot price has climbed to a 2-week high, with gold hovering around the $1320 per ounce mark as of 3pm CST Friday afternoon. While analysts have bickered over some of the reasons behind the upswing many agree that both consumer skepticism and disappointing economic data have played major roles.
The Federal Reserve has stated repeatedly that inflation is below the target range of 2%, but consumers have started to spread the word that the Fed’s definition of inflation doesn’t account for fuel or food costs. Factoring those two figures into the equation reveals that inflation is close to the double digits and is far above the 2% target rate.
Some believe that the Fed is holding interest rates low out of necessity and not just to be safe, as Chairwoman Janet Yellen has suggested. If interest rates were to rise it could overpower corporations with debt and stall any new hiring, which is fairly stagnant already. Last week’s non-farm payroll numbers revealed that “only” 300,000 individuals filed for first-time unemployment claims last week, but even though this was viewed as a positive in some circles (considering the current administration has seen an average of far above 300,000 since 2009) many believe a healthy economy should see about 1/3 as many people filing first-time jobless claims.
A number of recent surveys indicate that, while many Americans believe the economy is improving, the majority do not feel any positive change from the financial crash of 2007 that destroyed real estate values, sunk stock indices and saw retirement account investors lose a collective $2.2 trillion. To learn how to protect yourself and your loved ones from unstable financial markets and a floundering dollar contact the Certified Gold Exchange today at 1-800-300-0715 or request your 2015 gold investing guides below.
Tags:
gold investing, inflation, jobless claims, physical gold, retirement account, unemployment claims
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