More and more people are selling gold bullion and jewelry that they have accumulated to pay for their expenses and debts—gold bullion can help you pay for your bills when you have nothing left.
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New York, NY (PRWEB) September 16, 2012
According to Michael Lombardi, financial expert and lead contributor to Profit Confidential, economic uncertainty is in the air; consumer confidence is dreadful, unemployment is defective, and the prospects of economic growth are grim. However, Lombardi reports that investors are flocking to find safety in gold bullion, while consumers are rushing to sell their gold to relieve debt—gold is now a safety net against a volatile market.
“There are about 28,000 cash-for-gold outlets in Italy and business is booming,” notes Lombardi. “More and more people are selling gold bullion and jewelry that they have accumulated to pay for their expenses and debts—gold bullion can help you pay for your bills when you have nothing left.”
In the article “Eurozone Citizens Turn to Selling Gold to Save Themselves,” Lombardi reports that signs are pointing to gold bullion prices only increasing from here.
“There is enough evidence of that; central banks are buying gold bullion to add to their foreign exchange reserves, there are chances of more quantitative easing by the Federal Reserve and currency devaluation,” says Lombardi.
Lombardi reports that Lisbon, the capital of Portugal, is now facing a situation similar to Italy’s.
“The cash-for-gold shops have increased in number and people are selling their gold at an incredible rate,” states Lombardi. “People are running out of money and falling back into the safety net of gold bullion.”
The recent spree of citizens selling gold bullion in the eurozone countries is a true example of gold bullion as a store of value, according to Lombardi.
“Government bailouts and fiat currency sound great, but when times are uncertain, people turn toward gold bullion as a true currency to exchange with,” concludes Lombardi.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.