Gold Price May Rise As A Result Of Sequestration Spending Cuts, Reports Gold Price

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Massive government spending cuts set to take effect on Friday will cause increased economic uncertainty, increased unemployment, and continued easing, but they will end up being beneficial to gold, reports American gold dealer, Gold Price.

Gold Price - GoldPrice.net

Gold Price - GoldPrice.net

Gold is a safe-haven investment that those looking to profit and protect wealth can count on to get them through troubled economic times.

If Washington can’t come to an agreement on spending cuts today, the sequestration cuts totaling $1.2 trillion over 10 years will automatically kick in. These cuts could end up costing the US job market 1.4 million jobs and would guarantee the continuation of quantitative easing programs, as the Fed tries to stabilize the uncertain US economy. More easing will likely amplify the threat of inflation. All of these results of sequestration are potentially bullish for gold, an asset which thrives during times of economic uncertainty, high unemployment, and inflation, reports American gold dealer, Gold Price.

Arthur McGuire, Vice President of Gold Price, says, “I’m surprised that the gridlock over this issue hasn’t increased the gold price higher this week. As we get closer to March 1st, it’s looking more and more like the guys in Washington aren’t going to be able to find a spending cut plan that both parties can agree on, and this is bullish gold. If they don’t think of something quickly, we are going to see a worsening of the conditions that caused gold to rise over 550% over the last twelve years of its historic bull run. It’s in a slump right now, as people are viewing the economy with optimism, maybe a little too much optimism, but that is actually a good thing for investors who want to diversify their portfolios with precious metals, as prices are relatively low compared to what we could see in the near future. Gold is a safe-haven investment that those looking to profit and protect wealth can count on to get them through troubled economic times.”

Gold Price (GoldPrice.net) is a leading precious metals advisor since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver, such as modern bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.goldprice.net or calling 1-800-767-1423.

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Arthur McGuire
Gold Price
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