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Gold Bullion Buyers Hoping for Govt. Shutdown Solution

September 30, 2013 - Gold bullion investing took somewhat of a hit Monday morning as news emerged that U.S. lawmakers were unable to resolve their budget differences over the weekend, meaning that when the clock strikes midnight the federal government will be partially shuttered until an agreement can be reached. The news shocked most markets in the United States, including the gold bullion market, as investors unsure over President Obama’s next step waited cautiously for updates on the impending government shutdown. As of noon CST the gold bullion spot price was down $7.80 to $1328.90, a 1% loss for the trading session.

The government’s financial shortfalls over the last few years have scared many investors away from bullion, which was once confiscated by the U.S. government to strengthen the dollar and pay down U.S. debt. The U.S. debt limit will be reached in just a couple of weeks, adding to some investors’ worries that their bullion could be vulnerable to confiscation or a bullion “prohibition”, in which no forcible seizure takes place but the bullion’s value goes to zero unless it is sold directly to the U.S. Treasury.

Many gold bullion investors have converted from bullion to certified gold in an effort to protect themselves from any future bullion confiscation, and some investors have sold their gold altogether, opting to remain in cash until our lawmakers sort out the mess that is the U.S. economy. For regular updates on the gold bullion market and special gold bullion discounts subscribe to our RSS feed. Also, investors who are new to gold or want to improve their knowledge about gold bullion can request a free copy of The Insider’s Guide to Gold Bullion Investing in the box below or by calling directly at 800-300-0715 for a complimentary mail-out kit.

Daily Updates Archive

Jonathan Monroe

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