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.
Over the last several years, the move in gold prices have been more and more in sync with market perceptions of what actions will be taken by the world’s major central banks.
For example, today’s Fed meeting and its anticipated outcome has kept gold prices under pressure lately, with gold on Tuesday falling 1.2%.
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.
One megatrend continues on its path, unperturbed, with no end in sight: The East’s huge push for investing in gold.
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.
Gold investors are just not feeling the love, once again left to wonder why gold prices are going down.
A strong stomach and a tremendous amount of patience are required if your invested in gold stocks these days, as miners have been exhibiting their typical volatility pattern.