Our take on the “Gold Crash”

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JSGOLD33.JPGClearly, many people just lost big on Gold. If you are looking for why, it is relatively simple – in my opinion. Let’s start with this headline: “Cyprus to sell around 400 million euros worth of gold” (from Reuters on April 10, 2013).  That’s the first issue with gold. Our European friends are likely going to be dumping gold into the markets over the next few months from many of the weaker countries. That means that no gold price will be stable for a while. On top of that, the European Central Bank and the United States Federal Reserve do not want gold continuously proving how weak their currencies really are. Unlike controlling inflation, controlling interest rates, and controlling our lives, no government wants their citizenry running to gold and exiting their currency.

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