{"id":444,"date":"2010-10-27T09:34:06","date_gmt":"2010-10-27T16:34:06","guid":{"rendered":"http:\/\/www.goldcoinsrare.com\/?p=444"},"modified":"2010-10-27T09:34:06","modified_gmt":"2010-10-27T16:34:06","slug":"gold-is-pulling-back-today","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/gold-is-pulling-back-today\/","title":{"rendered":"Gold is Pulling Back Today"},"content":{"rendered":"

The\u00c2\u00a0gold price<\/a> is pulling back today reportedly due to a Wall Street Journal article released this morning.\u00c2\u00a0 The article titled \u00e2\u20ac\u0153Gold Dips as Fed Seen More Cautious on Stimulus\u00e2\u20ac\u009d says the following, \u00e2\u20ac\u0153investors began thinking a potential Federal Reserve monetary stimulus will be a more gradual affair rather than a larger injection.\u00e2\u20ac\u009d<\/p>\n

Apparently the market and investors were expecting a much larger stimulus injection than what the Wall Street Journal is expecting.\u00c2\u00a0 The WSJ is reporting that \u00e2\u20ac\u0153the Fed over several months will purchase only a few hundred billion dollars worth of treasuries, far from the more than $1 trillion some had expected.<\/p>\n

This has created a rise in the dollar<\/a> this morning which has pushed gold and the Dow lower.\u00c2\u00a0 Jim Steel, senior vice president and metals analyst with HSBC in New York had this to say, \u00e2\u20ac\u0153If the perception is changing more to a gradualist approach than shock-and-awe, then that may undermine the precious metals near term.\u00e2\u20ac\u009d<\/p>\n

Gold rallied to over $1,380 per ounce this month as expectations of quantitative easing round two was on its way.\u00c2\u00a0 This created concerns of long-term inflation along with dollar instability.\u00c2\u00a0 The thought is if the amount is much lower that these concerns can ease off a bit.\u00c2\u00a0 But you decide for yourself, the debt is around $14 trillion and the yearly deficit is over $1 trillion and growing, do you think inflation is going to be double-digit in the future?\u00c2\u00a0<\/p>\n

I do, and so does the National Inflation Association.\u00c2\u00a0 They said this in an email dated October 14, 2010: \u00e2\u20ac\u0153According to minutes that were just released this week from the Federal Reserve’s meeting on September 21st, the Federal Reserve is now trying to figure out ways to boost inflation expectations. The mainstream media is reporting that the Federal Reserve wants to publicly declare their intention to seek a higher inflation rate so that Americans are encouraged to spend more before their money is worth less. Unfortunately, what the mainstream media fails to realize is, not only will their money soon be worth less but it will literally become worthless.\u00e2\u20ac\u009d<\/p>\n

NIA believes that hyperinflation<\/a> is on the horizon which is why they believe the US Dollar will become worthless.\u00c2\u00a0 So in the long-term look for gold to continue its rise, today\u00e2\u20ac\u2122s action is temporary, just like every other correction we have seen to date.<\/p>\n","protected":false},"excerpt":{"rendered":"

The\u00c2\u00a0gold price is pulling back today reportedly due to a Wall Street Journal article released this morning.\u00c2\u00a0 The article titled \u00e2\u20ac\u0153Gold […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[53,1421,1422],"class_list":["post-444","post","type-post","status-publish","format-standard","hentry","category-blog","tag-federal-reserve","tag-gold-prices","tag-gold-trading"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=444"}],"version-history":[{"count":0,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/444\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}