- June 13, 2014
- Category: This Week in Gold
This was an exciting yet also nerve-wracking week for gold, but we learned some fun facts as well. We presented three experts’ opinions on a possible collapse in stock prices, gave you 25 interesting facts about gold, saw gold rise on international developments like the World Cup, and learned of the many industrial uses of silver.
Today (Friday, June 13) and yesterday, chaos broke out in Iraq as militant groups invaded major cities. As a result, gold is at a two-week high today. The latest conflict in Iraq demonstrates the power of gold’s safe-haven appeal and how quickly it can influence the market.
Are We in a Stock Market Bubble?
On Monday, we shared with you some thoughts from Mark Spitznagel, a hedge fund manager who has had successful stock market predictions in the past, as well as the opinions of two other historically successful analysts. He thinks we are currently in a stock market bubble that could burst any day now. He blames Obama’s big government policies and the Fed’s low interest rates. Rather than your only options being selling your stocks or staying in the market and riding out the storm, he suggests sticking to sections of the market which are predicted to do well within the next few months. But always remember: past performance is not indicative of future results.
25 Interesting Facts about Gold
On Tuesday, we had some fun by giving you a list of surprising gold facts. Did you know that gold never gets rusty, is the heaviest metal in the Periodic Chart, and is much more rare than diamonds? Or that the heaviest gold bullion coin ever produced was an Australian Kangaroo coin weighing about 2.2 lbs and the deepest gold mine in the world is the length of ten Empire State Buildings? From chemical properties to mining facts and even urban legends, check out 25 interesting facts about gold.
The World Cup – whose trophy is made of gold – contributes to gold’s rise
On Wednesday, we gave you an update on gold’s slight rise in price after its slump lately. Gold for August delivery rose by 0.2% to $1,262.40 an ounce by about 10:00 am EST on that day. The World Bank forecasted slower economic growth for major countries such as the U.S., China, and Brazil, and the World Cup began the next day. The European Central Bank also became the first major central bank to set negative interest rates. All of this sparked safe-haven demand and bumped up gold.
Silver is the “Silver Bullet” for Many Industrial Needs
On Thursday, we had some more fun but this time with silver information. Silver will mostly likely always have demand behind it due to its diverse and numerous uses in industries. Particularly, silver is useful in medicine, technology, and sanitation. For example, did you know that silver-enforced bandages help speed up healing time? See more of silver’s industrial uses and prepare to be surprised.
Precious metals are precious for many different reasons, including their unique chemical properties and uses. They also respond to more types of occurrences in the world than you may think. To take advantage of the many different appeals of gold, call American Bullion today at 1-800-326-9598 to speak to an agent about opening a Gold IRA to protect your retirement savings.
