The market expects $1900 level as short term resistance for gold, after a possible target of $1950 will be insight next month. Yellen said, the U.S. does not want a weak dollar and would fight other countries who attempt to manipulate currencies.
Her posture is ACTING BIG now on further government spending, the economy requires strong policies to recover.
The market sentiment, with a skyrocketing deficit, and the global debt bubble,provide investors the confidence that gold will remain in bullish phase. Demand for coins and bars is certainly strong, premiums for some coins are rising and inventories are extremely low.
Investors view Biden’s persistence for new stimulus as the driver for moving aggressively into the physical metals market. At some point, we will face a debt crisis like nothing ever seen before. In general more and more investors are selling other assets and building gold positions as a measure of long term protection.
Don’t forget this statement from Janet Yellen…
Government must ACT BIG…!!!
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