Gold has been a store of value and a unit of transfer for longer than the fiat currency created by central banks.
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New York, NY (PRWEB) November 26, 2012
In a recent Profit Confidential article, lead contributor and financial expert Michael Lombardi reports that demand for gold is growing, as China’s demand for gold is expected to exceed India’s for the first time. Lombardi notes that the Chinese demand for gold will reach 869 tonnes in 2012. (Source: Reuters, November 8, 2012.) According to Lombardi, due to the uncertainties around the world, 2013 will see even stronger price appreciation in gold.
“Gold has been a store of value and a unit of transfer for longer than the fiat currency created by central banks,” says Lombardi. “… Since the financial collapse in 2008, gold has become the only savior.”
Stating that gold still provides safety against uncertainty, Lombardi cites, as an example, the recent jump in gold prices when the Pentagon announced that Iran tried to shoot down a U.S. unarmed and unnamed surveillance drone on November 1.
In the article Uncertainty, Demand and Currency Debasement to Push Gold Prices Even Higher,” Lombardi points out that central banks are continuously printing their respective currencies, and this will also help drive up gold prices.
“From 2008 to 2011 alone, the Federal Reserve has printed $2.3 trillion. Other central banks are doing the same,” notes Lombardi. He concludes, “…gold meets all the criteria to soar even higher. Uncertainty is still present, demand is increasing, and central banks are expected to continue printing fiat money.”
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.