Gold Flirts with Powerful $1,300 Mark
Posted By | August 23, 2017
By the time you read this, gold prices may well have broken through the $1,300/ounce mark, thanks to domestic and international worries that only seem to be getting worse. The stock market has been gyrating in increasingly larger arcs, indicating growing nervousness on the part of the financial paper pushers.
And as we regularly point out, nervous stocks are often accompanied by solid price gains for gold and silver.
What’s the nervousness all about? For one thing, it seems that the number of Republicans questioning the president is growing. Every day, another senator takes a cheap shot at him, perhaps succumbing to the fake news stories Trump believes distort the facts.
President Trump’s twittered opinion that many, if not most, of the Charlottesville marchers supporting Robert E. Lee were good people, a few swastikas notwithstanding, has stirred the pot. Then, some top-tier executives stabbed Mr. Trump in the back by leaving his business councils.
Couple that with terrorism in Spain, a nuclear standoff in North Korea, hysteria against Russia and incompetence in Afghanistan, and you can see why the world is on edge.
I believe what is worrying the stock market most, however, is the growing fear that Mitch McConnell, who was so feckless on repeal of the failing Obamacare, won’t be able to get Americans their tax cuts this year. One more thing that adds to the worry: Congress seems to be balking at funding The Wall, even though the American people gave Mr. Trump a thundering mandate to build it.
Investing in Gold is One Way to Fight U.S. Economic Turmoil
Of course, all this tumult is fantastic for gold. Piercing the $1,300 mark sets up a test of recent highs, and a breakout could be powerful and sustained. There was never a better time to open your Augusta® Gold IRA and sock away bullion gold coins while getting a tax-deduction. Not only that, gold and silver tend to hold their value when stocks are dropping, so they help balance out your portfolio with real diversification – not just diversification in other paper-based investments.
Augusta Precious Metals can use its extensive experience with this type of investment to help you set up your gold IRA, and then sell you gold and silver coins from the U.S. Mint and other approved sources at the industry’s best prices. You can hold the precious metals invested in your IRA without paying any taxes until you later withdraw your money. Then your precious metals will be right there, helping you counter the effects of dropping stocks and the nation’s economic woes. Don’t put all your faith in paper assets – own a physical gold IRA and be prepared for further turbulence.
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