Ira Epstein discusses the impact of the federal government shutdown on the metals market, noting an unexpected rally in stocks and a cautious outlook for gold and silver.
Since gold is real, stable money, pricing the Dow in the yellow metal reveals that the appreciation of the stock market over the last century was predominantly driven by inflation.
Ira Epstein covers the current state of the metal markets, highlighting significant movements in gold, which is approaching the $4,000 mark, and silver, which has surpassed $47.
The relentless erosion of U.S. dollar purchasing power, combined with the debt crisis and volatility in traditional assets, makes gold an indispensable safe haven for investors.
A slowing global economy also adds to gold’s attractiveness as a safe haven. And it may be the safe haven of last resort because Bitcoin took a hit this past week.
