New York, NY (PRWEB) March 15, 2013
Inflation data released Friday came out a little higher than expected. Rather than the 0.5 percent predicted by economists, the consumer price index rose by 0.7 percent. The spike was largely due to a 9.1 percent rise in gasoline prices in February. Also contributing were the indexes for natural gas, electricity and fuel oil that increased as well, which led to a rise of 5.4 percent in the energy index, as well as a 0.1 percent increase in the food index. The United States hasn’t seen a positive one-month percent change in the consumer price index since October of last year, when it rose 0.2 percent. It then fell by the same amount in November and remained unchanged in December and January. Inflation is seen as bullish for gold, as it attracts investors to the precious metal for its safe haven properties.
Arthur McGuire, Vice President of Gold Price, says, “Although the media is attempting to downplay the numbers released by the Department of Labor last week, the bottom line is that the CPI hasn’t risen so dramatically in almost four years. While this could spell trouble for many sectors in the economy, one asset that will be ok, and actually benefit from this, is gold. This could be the first sign of the inflation that has to come as a result of the continued monetary easing practices of the Federal Reserve. They can’t just print all that money and expect not to see inflation rise at some point. Those who invest in gold now will be able to weather the storm.”
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 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.