If interest rates rise...hold on to your hat.
New York, NY (PRWEB) November 29, 2013
Perennial gold investment price projector Gold-Investment.info has issued its year-end report regarding expectations for the gold investment spot price in 2014, and web site spokesman Rob Patel said in a conference call today that the end-of-year report was released slightly earlier than in past years due to the unique year that it has been for gold investments.
"Gold had a $200 drop in April and then clawed its way back up. It fell again in June and had another dip in August. Just this week it fell below $1250 for the first time in a long time, and people don't really know what's going on," Patel said. "The Federal Reserve's policies have combined with the perceived lessening of fear in the world to push gold prices down, and the frenzied selling of derivatives hasn't help, either."
In recent months Bank of America Merrill Lynch, HSBC, Goldman Sachs and other investment banks have lowered their forecasts for gold and silver investment prices, but Patel says that all signs point to higher prices in 2014. "The incoming Fed chief will have to raise interest rates sooner rather than later, and if you combine that with the end of QE you have an instant recipe for a gold bull," Patel said.
Indeed, a recent World Gold Council report shows that demand for gold coins, bars and jewelry is up 26% this year despite the gold spot price being down 26% year-over-year, and the US Mint has set sales volume records all year long. "If interest rates rise," Patel says, "hold on to your hat."
Gold-Investment.info is a leading gold investment adviser since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold-Investment.info Gold-Investment.info is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver as modern bullion bars/coins and certified rare coins, both for physical delivery and IRA storage. They offer investors a free award-winning gold starter’s kit by visiting http://www.gold-investment.info or calling 1-800-767-1423.