Gold prices are solidly higher and hit new record highs in midday U.S. trading Tuesday. Silver futures are also posting good gains. Persistent safe-haven demand amid heightened concerns over a global trade war, new geopolitical developments, bullish charts and notions of an easier Federal Reserve monetary policy are fueling the powerful bull market run in gold. April gold was last up $34.50 at $3,040.90. May silver prices were last up $0.442 at $34.75.
Israel launched airstrikes across the Gaza Strip early Tuesday, killing at least 400 Palestinians, including women and children, according to hospital officials. The surprise bombardment shattered a ceasefire in place since January and threatened to fully reignite the 17-month-old war. Over the weekend the U.S. attacked Houthi targets in the Middle East and vowed more strikes.
Broker SP Angel today reported in an email dispatch: “The fragmentation of the past 20 years of globalization is likely a key theme in this gold bull run. This was triggered by sanctions imposed upon Russia, prompting diversification away from U.S. dollar-denominated foreign reserve holdings. This has been reflected in a doubling of gold buying from central banks, led primarily by Western adversaries, notably China. This theme has continued under Trump, …including rising animosity between the U.S. and its long-held western allegiances, pushing countries to diversify their reserve base.”
Reads a Barrons headline today: “Buffet and gold win as S&P 500 struggles in this Trump market.” The story suggests that like gold, Berkshire Hathaway stock is a safe-haven asset. Berkshire stock hit a record high Tuesday.
The U.S. data point of the week will be the Federal Reserve Open Market Committee (FOMC) meeting that began Tuesday morning and ends Wednesday afternoon with a statement and press conference from Fed Chair Powell. The marketplace expects no interest rate changes at this meeting, but it will closely parse wording coming from the FOMC statement and Powell’s presser. Reads a Wall Street Journal headline today: “Powell contends with double threat of economic chaos and political hostility.” […]
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
