Hold gold

in #gold8 years ago (edited)

Summer initially saw a rise to $1370 in gold prices and then a small fall to $1310 in late August whilst people were on holiday, returning from holidays volumes were light. Of course the Fed has also been threatening interest rate increase in Sept or later in the year, pushing gold lower too, and there are also the theories though not proven, but plausible that the market is actively fixed to protect the dollar.
Today has marked a good rise to $1350, the holidays are fading as fast as the tans and all the concerns pre summer have not gone away. Central bank debt is massive, QE no longer has much affect than to raise asset prices, personal debt is high, companies are hoarding cash. Brexit though calm now hasn't even begun and though I'm certain it will end well it will be a bumpy road. Donald Trump is making gains, as Hilary suffers from her email debacle, NY, LA, Washington etc may be firmly Clinton, but middle America could deliver a Brexit shock and Vote Trump, frightening. Russia is set on a firm path of trouble making and Vladamir will not compromise for fear of looking weak, his strategy of tearing apart Syria and pushing a tide of refugees West to try n destabilize Europe is troublesome, but he should no bully's rarely get there way. Let's hope he doesn't become more ambitious, mad. The EU is in a mess, financially a two tier system with huge debt in the south that's not been tackled and prosperity in the North by the Germans selling their wares to a EU closed market and benefiting hugely. The U.K. has made clear it won't let Germany control its borders after it fort so hard to protect them half a century ago, the U.K. has dealt a heavy blow to the EU. But the UK is also in massive debt with a £70 billion annual deficit everyone has given up trying to fix.
China is a keg waiting to explode, debt is astronomical, property is a bubble, companies owe billions on 'dark lending' that people can't trace. Add in a communist system that blames the west to make itself look better to a gullible population and there are huge issues. Oh, and then there's the Middle East...
There are many bad reasons why you should hold gold, and more not listed, we're in a mess and we wander further into it, gold doesn't pay a return but gold miners do, bag yourself a good one to make some money, and bag yourselves some sovereigns in case it all goes wrong, - let's hope it doesn't.

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