Gold rises as U.S. debt increases, Hunter Wise Commodities encourages becoming metal retailer

Aug. 1, 2011 - PRLog -- LAS VEGAS – On July 27, gold reached a record high of $1,625.90 an ounce, according to the Wall Street Journal.

This jump for the precious metal came after President Obama encouraged lawmakers earlier in the week to come to compromise in debt resolution discussions.

U.S. debt is at $14 trillion and rising, according to Reuters news service. Hunter Wise Commodities, a precious metals wholesale dealer based in Las Vegas, predicts that the mounting debt will continue to improve gold’s performance.

“The United States soon faces a AAA credit cut, which will only hurt the dollar and boost gold,” said Ed Martin, president of Hunter Wise Commodities.

In his address to the nation on July 25, President Obama said he wants a strategy in place to conquer debt so that the economy won’t crash. Standard & Poor’s has already warned it could slash the U.S. credit rating within three months.

Gold has been traditionally thought of by investors as a safe-haven investment, which means it is solid in a volatile economy.

“We expect to see gold keep rising in the long term. The U.S. debt crisis and credit downgrading will benefit gold’s performance,” said Martin. In fact, Reuters reports analysts anticipate gold to reach $1,644 per ounce in the short term.

Silver is expected to rise along with gold. The precious metal hit $40.56 per ounce on July 27.

Hunter Wise Commodities recommends becoming an independent precious metals retailer while gold and silver are thriving.

The metal wholesale dealer provides a two-way market for precious metals, including gold, silver, platinum, palladium and copper.

For nominal startup fees, independent precious metal retailers can join Hunter Wise and receive training, mentoring and accounting support while building their businesses and maximizing profits.

To make the most out of the current debt crisis, become a dealer with Hunter Wise Commodities by visiting http://www.hwcom.com/.

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About Hunter Wise Commodities

Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The wholesale dealer specializes in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/.