Gold and Silver Seen Rebounding

Investor’s Business Daily offers up five reasons why the “Gold, silver sell-off may be short-lived,” and Bloomberg reports that according to its weekly survey of traders, gold is seen rallying, as “mounting concern that U.S. lawmakers are doing too little to control the budget deficit spurs demand for a protection of wealth.”

The article quotes one asset manager as saying that “Euphoria over the fiscal-cliff avoidance could be short lived as all problems are not solved yet.  There’s still a huge amount of debt. Gold is nobody’s liability, it’s the ultimate alternative currency.”

This entry was posted on Saturday, January 5th, 2013 at 11:58 pm and is filed under Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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