SLOW GROWTH COULD LEAD TO BAD NEWS FOR FINANCIAL MARKETS
Stocks have gained approximately 1% so far today as Gold and Silver have turned downwards. Economic data from the U.S. and China supported thoughts of a growing global economy, according to Scott Wren of Wells Fargo Advisors. Wren said, “The data still tells me we’re in a modest growth and modest inflation economy going into next year… I don’t think you can read too much into this particular bounce…”
This type of slow growth, however, could lead to bad news for financial markets in the future. William Gross, co-chief investment officer of PIMCO said, “Financial repression and quantitative easing were supposed to be the extraordinary monetary policies that kick-started the real economy in the other direction. They have not. [There is] a growing risk that the negative consequences of misguided monetary and fiscal policy might lead to disruptive financial markets at some future point.”
At 2:09 p.m. (EDT), the APMEX Precious Metals spot prices were:
- Gold, $1,716.80, Down $3.30.
- Silver, $32.27, Down $0.08.
- Platinum, $1,568.70, Down $5.80.
- Palladium, $612.50, Up $1.70.