Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 21 2017
By: Ira Epstein

Bitcoin, Bail Ins And Bullion
By: Mike Maloney

Tactics For The Gold Bull Era
By: Stewart Thomson

Dow Peaking? The Quick Guide to Diversifying Your Stock Profits
By: Jeff Clark

 
Search

GoldSeek Web

 
Have 10% of Wealth In Gold As “Fire Insurance” – Rickards


 -- Published: Monday, 7 September 2015 | Print  | Disqus 

‘Death of Money’ author Jim Rickards recommended a 10% allocation to physical gold when interviewed by the ‘Money Honey’ Maria Bartiromo on Fox Business last week.

In a very interesting interview which also included Barron’s Editor Jack Otter and FBN’s Dagen McDowell, Rickards said that gold is like “fire insurance on your house”

“Nobody wants their house to burn down but if it does you are glad you have some insurance”.

07-09-2015_1
(Click on the image to view the video on the Fox Business site)

Rickards points out that as gold is insurance you should not worry about its price as much as you would other assets. When you buy insurance you are not concerned when the price of the insurance falls. What is important is that you own it as it will protect from worst case financial and monetary scenarios.

He says that gold is money and warns that fiat currencies can lose value sharply if confidence disappears as has been seen in “5,000 years of history.”

Rickards reaffirmed his view that gold will rise to $10,000 per ounce but said that it is not gold rising to $10,000/ oz, rather it is the dollar losing value and a “collapse in the dollar” which could “start tomorrow” as we have an “unstable financial system.”

DAILY PRICES
Today’s Gold Prices: USD1121, EUR 1,004.03 and GBP 734.75 per ounce.
Yesterday’s Gold Prices: USD1,125.00, EUR 1,009.87 and GBP 737.95 per ounce.
(LBMA AM)

07-09-2015_2
Gold in EUR – 1 Week

On Friday, gold ended with a loss of just 0.29% while silver ended with a loss of 0.75%. For the week, gold was 1.08% lower and silver was 0.07% lower.

Gold was marginally lower in gold trading in Singapore and this slight weakness continued to European trading with gold tethered to a remarkably tight $3 range between $1,123.70/oz and $1,120.50/oz.

Gold again outperformed embattled stock markets last week. The Dow Jones Industrial Average, S&P 500 and Nasdaq were down 3.25%, 3.4% and 3% respectively. Other indices were down by much more – the Nikkei plunged by over 7%. The stock falls follow a dire August which was the worst month for stocks in more than three years.

IMPORTANT NEWS

Gold inches higher as China returns – The Bullion Desk
Gold Trades Slightly Higher in Asia – The Wall Street Journal
Gold struggles near 2-1/2-week low on U.S. jobs data – Reuters
Gold Holds Near Lowest in Two Weeks as U.S. Jobless Rate Drops – Bloomberg
Global concerns may shrink Wall Street’s third-quarter estimates – Reuters

IMPORTANT COMMENTARY

Father of the euro fears EU superstate by the back door – The Telegraph
Russia flirts with Saudi Arabia as OPEC pain deepens – The Telegraph
“System Is Highly Unstable—If [Confidence] Is Lost, It Can Melt Down Very Quickly” – Sprott Global
Get ready for a lousy September as investor sentiment slips – MarketWatch
The Frankenmarket Monster – MoneyWeek
Read the stories above on our News and Commentary page

| Digg This Article
 -- Published: Monday, 7 September 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.