Central Banks Build Gold Reserves At Bargain Prices -- Morgan Gold

June 25, 2013

James O'Dell

June 25, 2013, Los Angeles ? Gold inched closer to a three year low on Monday, as the precious metal dipped 1.06 percent or $13.70 to close at $1,282.00 an ounce, pressured by a stronger dollar amid investor concerns that the Fed will end its nearly five year old quantitative easing (QE) program by mid-2014. The price to invest in Silver slid 2.09 percent or $0.42 to close at $19.65 an ounce, while the Gold/Silver ratio climbed to 65.24, a near three year high, as Silver under-performed Gold.

Gold?s bull market remains intact according to Schroder Investment Management Ltd., and as stocks and bonds decline, investors will seek out insurance against growing economic and political risks, that's when demand for Gold will soar once again. Former U.S. Mint Director and Morgan Gold's chief strategist Edmund Moy said recently, "...Overall physical Gold demand remains strong. While the subjective view is that the economy is moderately improving, the objective view is that the recovery is very fragile, uneven, and compared to a normal economy, still in very bad shape.? Expect continued strong demand for physical Gold amidst very volatile Gold prices."

Many feel Fed Chairman Bernanke may be forced to expand QE later in the year, not reduce it, as the economy continues to falter. "Right now equities, bonds and Gold are very over-sold," says Dr. Marc Faber, author of the Gloom, Boom & Doom Report, "and they could easily rally." When compared to equities, however, "sentiment in bonds and Gold is incredibly negative. In other words, as a contrarian I would rather buy bonds and Gold than equities," explained Faber.

Meanwhile, the month of May makes eight straight months that both Russia and Kazakhstan have expanded their Gold reserves. International Monetary Fund (IMF) data show that Russia's holdings are now seventh in the world, by country, after adding another 6.2 tons, pushing its total holdings to 996.2 tons. Kazakhstan added 4 tons, taking their total holdings to 129.5 tons, an increase of 12 percent this year, following an expansion of 41 percent in 2012. Don't leave your assets unprotected during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver and protect your wealth in 2013.??

You can browse and buy a Gold coin or a Silver bar, quite easily at Gold-backed IRA provider Morgan Gold and they can be stored in a safe-deposit box if needed. Join our 38^th Director of the U.S. Mint, and Morgan Gold?s Chief Strategist, Edmund C. Moy, and?? add physical Gold to your IRA Today.?? Hear Mr. Moy speak on Gold and your retirement. Let our team at Morgan Gold help you diversify your portfolio today by calling us Toll Free at 1.800.585.1773.

We assisted Mr. Moy in setting up his Gold IRA retirement account, and he liked us so much?he joined us. We hope you will too. Let us start you in a new Self Directed Gold IRA or a 401k Gold Today. Get your Gold or Silver IRA today and stay in touch with Morgan Gold's latest news by clicking here Facebook and Twitter. Please join us today and become a fan and a follower.

Source: http://www.morgangold.com/news/20130625-central-banks-build-gold-reserves-at-bargain-prices.html

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