SOURCE: Gold Coin
Gold firmed up following the Federal Reserve’s statement released Wednesday, in which the U.S. central bank affirmed its devotion to economic stimulus, reports America’s Gold Coin Superstore, Gold Coin.
New York, NY (PRWEB) March 22, 2013
Gold reacted positively following a Federal Reserve statement released Wednesday, in which the central bank announced that it will adhere to its monetary stimulus policies. The Fed stated that despite recent signs of improvement in the labor market and a slightly bolstered housing sector, elevated unemployment and more restrictive fiscal policies will require it to continue purchasing $85 billion of mortgage-backed and longer-term treasury securities a month for the foreseeable future. The Federal Open Market Committee anticipates that it will be able to keep inflation running at or below its 2 percent objective over the medium term. Quantitative easing by the Fed, which has played a pivotal role in gold’s rise so far, is seen as bullish for the yellow metal, as it portends hyperinflation.
Arthur McGuire, Vice President of Gold Coin, says, “No big surprise here. Despite numerous media outlets hailing the coming end of quantitative easing, the FOMC has once again voted to stick with its money printing scheme. I’ll reiterate that it’s best to heed what the Fed does, and not what it says. The fact that a few committee members vocalize their qualms about QE in the meetings doesn’t matter much when they almost unanimously vote to continue easing practices. They say that they will be able to keep inflation in check, but these policies have increased the monetary base over 200% since 2009, and such a claim seems quite ambitious. These policies justifiably spark inflation fears and it is smart to buy gold coins and bars as a hedge against that possibility.”
Gold Coin (GoldCoin.com) is America’s Gold Coin Superstore with over two decades of experience advising household investors on smart physical gold investments and gold coin IRA and 401k plans. They buy and sell all types of gold, silver and platinum coins and offer free delivery directly to your door. For more information or a free "Gold Coin Starter Kit", visit http://www.GoldCoin.net or call 1-800-425-5672 today.
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