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It was a global bomb Monday night. Wall Street dropped the largest points as the stock market declined 634 points, the worst decline in 112 years. The total value in paper lost millions. And, if that’s not enough! While riots in London continue, and more than 300,000 Israelites are protesting the government and demanding social justice, the hypixel skyblock coins for sale resumed its decline. Fear has pushed Spanish and Italian bonds higher for those countries in need of bailouts while Germany want both debt starved countries to sell of their gold to stem ECB bond buying. Italy’s gold reserves are the fourth-largest in the world, “They should fix their own budgets, something they can accomplish through privatizations and selling their gold reserves,” argued CDU spokesman Michael Fuchs. Thus, as economic and political world pressures keeps crumbling, fear of recession has pushed top money people to liquidate what stocks they have and go for gold. After starting the year at $1,421.40, gold jumped a record high early Tuesday as it rose $21.50 per ounce to $1,737.70.
All markets are struggling. Investors are especially worried about the first-ever downgrade to the US credit rating. With the slowing US economy, a fear of inflation could very well be on hand, should the Fed make a move and print another QE. President Obama’s Monday night’s public address added little to boost America’s confidence for the future. “Markets will rise and fall,” he said,” but this is the United States of America. No matter what some agency may say, we’ve always been and always will be a ‘triple-A’ country”.
But as policies, speeches and bailouts keep creating counter efforts critically crippling the economy, the S&P downgrade was the tip of the iceberg suppressing the markets further down the road. It’s no surprise that all the negative and chaotic international political and economical structure has cast a positive light on gold. The historical flight for safety in gold continuously meet the economic challenges head on, and is not about to pull back anytime soon. “Hard assets survive because politicians can’t print them. Today’s gold prices are just appetizer for gold before the main dish is served”, says Regal Assets Team of Analyst.
With the global stock markets plunging, despite central bank interventions in Europe and Japan, “We are seeing a widespread crisis of confidence. Central banks have lost their credibility,” said Ed Yardeni. AFP reports that the “US gross debt shot up $238 billion to reach 100 percent of gross domestic product after the government’s debt ceiling was lifted”. With economic structures neglected, and the continued interest rates on bond issues rising in Europe, coupled with unemployment and deficit reduction in the US, all global economies are in peril. With gold having tripled in price over the last four years – not to mention as U.S. dollar continuing to weaken – it’s no surprise at all that Central Banks are rushing to gold like moths to flame and heavily buying gold .