This week in gold, we shared an infographic depicting what $1 buys you then vs. now and covered notable movements in both the stock and gold markets. While markets may fluctuate, remember that physical gold is seen as a long-term investment offering real value and peace of mind that your wealth is protected.
Infographic: “Then vs. Now: What Does $1 Buy You?”
Mashable.com has created an infographic depicting how much $1 would purchase you in the past as compared to 2014. The introduction reminds us that “The dollar ain’t quite what it used to be.” For example, $1 in 1913 could be used to purchase 4 lbs. of sirloin steak, while today the same dollar can only buy you 0.18 lbs. See the full infographic for more examples.
Dow Falls on Worries about Global Growth
U.S. stocks fell to their lowest levels since mid-August on Wednesday, with the Dow, S&P 500, and Nasdaq each losing over 1%. Stocks began to decline later in the day after data on U.S. manufacturing and construction spending did not meet economists’ expectations. Many investors had initially been optimistic about stocks for the remainder of 2014, but weak economic data coming from the U.S. and Europe changed their sentiment and led them to seek out less risky investments such as U.S. government bonds.
Gold Falls to Lowest Level Yet This Year
Following reports that U.S. job growth rebounded in September, gold fell to its lowest price yet in 2014. Gold for December delivery fell by 1.9% to $1,192.30 an ounce on the Comex, its lowest price yet in 2014. The jobless rate is now below 6%, which the Fed has previously declared as a target rate. Additional contributing factors include a potential interest rate hike, the stronger U.S. dollar, and the coming end to the Federal Reserve’s quantitative easing (QE) stimulus plan. Read more here.
American Bullion specializes in adding physical gold and other precious metals to retirement accounts such as IRAs and 401(k)s. If you would like to inquire about adding precious metals to your retirement portfolio, call 1-800-326-9598 to speak with a precious metals specialist.