US Perfect Storm for Gold & Silver

Posted | 30/09/2013 / Views | 1916
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Gold and silver rose on Friday just on comments by a US Fed official that tapering may not happen until 2014 as the US economy still needs to improve more.  It seems more and more likely that they will put it off until Yellen takes over (who is pro money printing) in January and in the meantime the inevitable cost cutting negotiated to lift the US debt ceiling and avoid a Government default will negatively impact the economy further and support QE for longer.  Remember last time they dragged out the ‘fiscal cliff’ negotiations in 2011 shares slumped over 16% and gold reached its high of $1900 and we are about to go through all of that again but with gold sitting at only $1440…