Gold prices plummeted in the past few days as the Feds raised the interest rate to 4.25. I have been hearing that rates would be going farther down and this amounted as an unexpected move from my viewpoint.
This unpredictability is leaving many scratching their heads however I feel the “Gold Bubble” is far from bursting yet. If you study the price of gold closely it will begin climbing back up again because of the supposed “good news” of rising interest rates. One has to study that the Feds raised the interest rates in an effort to push banks into making loans and not hold money for so long. Unconfirmed was a report the Feds would be charging banks interest on money they held. We also have to consider the real good news that unemployment claims have dropped in 23 states. However although rejoicing at the news I am a bit skeptical and wonder how much of this is politically motivated as a last push by Democrats before the November election.
I for one would love to see the price of gold plummet. This would make jewelry affordable once again and a sure sign that we as a nation are on the economic rise once again an economic trend that at the end can be considered for the greater good and that’s worth money in the bank.
Have a great weekend everyone. And be sure to get your VOTE done.
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