Los Angeles, CA – Wednesday marked the part one approval of a two part austerity plan to bail out Greece from its debt woes. While the decision was met with skepticism, the US stock market reacted positively adding more momentum to yesterday’s closing numbers.
Despite the stock market improvement, the optimism may be short lived. In the month of June, Conference-Board.org reported a 3.2 point drop in the consumer confidence index. Low consumer confidence coupled with an unemployment rate above 9% and an abnormally slow recession recovery has left many investors wary and uncertain exactly how to secure their financial portfolios.
One such avenue that has become an attractive option is precious metals. Investor demand continues to improve in this sector as metals such as silver and gold appreciate in value. Such precious metals make excellent safe-havens for investors during times of economic uncertainly because of their stability. Moving Traditional IRAs backed by paper assets into Gold IRAs or converting 401(k) accounts to gold and silver provide portfolio security as inflation increases and the U.S. dollar weakens.
The coming report of unemployment numbers and the conclusion of Greece’s austerity plan will dictate if the market will continue to rally. None the less, economic skepticism remains high leaving investors in search of more secure investments that protect them from the turbulence of a sputtering economy.
– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
American Bullion specializes in adding gold and silver to retirement accounts. If you have a question or would like to know more about your investment options, please call American Bullion at 1-800-326-9598 to speak with a precious metals specialist.