Gold prices took a beating Tuesday, plunging nearly 2% and marking the yellow metal’s worst day of the year.
Gold prices are the honey badger of precious metals right now.
As 2011’s very popular YouTube video showed us, the honey badger makes moves that don’t make sense – it “don’t care.”
And neither does gold.
We’ve been studying the resource markets – and gold in particular – for over 30 years. And have seen almost every cycle the yellow metal has gone through.
One thing is certain in our opinion: International investors, central banks and corporations are all looking to buy gold… And these slow summer months are likely providing the best price.
Can a continued reaction from the Fed be why gold is down today – a week after the FOMC meeting?
Both gold and silver tumbled to near three-year lows in overnight trading.
The answer to why gold prices are going down today isn’t hard to find – it’s a testament to the power behind Fed Chairman Ben Bernanke.
With gold prices near two-year lows through much of 2013, a bargain-hunting Money Morning TV viewer asked us about how to invest in gold.
The last several months have been tough on gold prices, but gold bugs haven’t lost their insatiable appetite for the yellow metal. With gold officially in a bear market, demand is surging at today’s bargain prices.
The Federal Reserve and other central banks keep printing money. The U.S. stock market is soaring. And gold prices, after a brief recovery, have continued their plunge.
Paper gold, controlled by Wall Street, is going down. But demand for physical gold all over the globe is going up every time that gold prices are down.
Investors should have gained confidence from Ben Bernanke’s recent testimony to Congress that the Federal Reserve intends on being accommodative as long as needed.
