It took a long time to fall, but gold today plummeted to levels anticipated earlier in the year. Gold prices were down to $1266.70 a troy ounce before the day’s trading ended in New York and could fall further when the market opens in the East tomorrow morning. This is a great time to buy gold and silver bullion!
An improving global economy has been threatening to disrupt the form of precious metals for several months now, but the drawn out geopolitical crisis in eastern Ukraine kept prices up around the $1300 price point.
The appointment of a new president in Ukraine however, has finally broken trader sentiment. Chocolate tycoon, Petro Poroshenko won an overwhelming vote and has vowed to bring stability back to troubled regions of the country.
Traders were further encouraged by comments made by Russian foreign minister Sergey Lavrov, who responded to comments about improving relations between Ukraine and Russia by confirming Moscow is ready to hold direct talks with the new President.
EU stocks up
The EU vote also caused European stocks to move higher as investors were encouraged by left-centre and right-centre parties winning majority seats in Brussels. Analysts were bearish today as increased sell-off of gold was traded in for equities.
Earlier this year, market speculators had forecast gold would average around $1250 per troy ounce, up on the $1220 expected before the Ukraine crisis forced the value of precious metals into an upward trend that would not give.
Consumers looking to add safe haven gold to their portfolio at attractive prices have had a long wait, but it now looks as though the window of opportunity has arrived. It may not last long, so if you do want to take advantage of low gold prices, this is your chance.
Analysts predict financial crash
It is well documented in economic circles that an impending stock market crash will be the most devastating in financial history. The credit culture which was launched by banks in the 1950’s has reached levels where the system of perpetual debt cannot take the stress.
Given central banks are in trillions of dollars of debt, there is no escaping the inevitable, a total collapse of the banking system. Account holders with more than £100,000 in their account are likely to lose money in bank bail-outs. It is therefore better to invest your money in commodities such as gold and silver.
Buying physical gold is the best option, either coins or bullion bars. It is also a safer option to have the products shipped to your house where you know they are safe. Although there is no legislation to confiscate physical gold held in high-security vaults yet, governments will introduce such conditions if it is a solution to help the debt problem.
To make sure you secure your safe haven investment and protect your financial future in the coming depression, visit coininvest.com today and check out the latest deals on gold and silver bullion.