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Hunter Wise Commodities: Bloomberg Precious Metals Conference reveals optimism for precious metals
Last week's Bloomberg Precious Metals Conference in New York City indicated a bullish forecast for precious metals in 2012.
“Survey respondents at the conference indicated that this year, they predict gold will extend its bull market to 12 consecutive years,” said Ed Martin, CEO of Hunter Wise Commodities, a leading physical commodity wholesale dealer based in Las Vegas. “Investors are accumulating record amounts of precious metals, and central banks have been expanding gold reserves for the first time in a generation. For three straight years, central banks have been net buyers.”
According to Bloomberg News, gold bullion may rise to $1,897 an ounce in New York by Dec. 31 – compared with $1,566.80 per ounce last year at that time. The gold rally began in 2001 and is the longest single rally since at least 1920 in London. Last year alone, gold gained a notable 10 percent.
The precious metal experts at Hunter Wise Commodities believe that many factors have influenced the modern-day gold rush. First, demand has strengthened due to constant debt crisis in Europe and volatility surrounding the euro. Slowing economic expansion in China – and all-time low interest rates in the United States and United Kingdom – are also boosting the precious metals market.
The U.S. Federal Reserve has achieved record low borrowing costs (near zero percent). It also recently conducted two rounds of asset purchases – known as quantitative easing – to foster new growth.
The Reserve’s actions have contributed to increased demand for gold as an inflation hedge against the weakened value of the dollar.
“There is a sea change taking place when it comes to investment school of thought,” said Martin. “Paper-based assets like currencies and bonds are being set aside for precious metals. Gold is not only an investment, but an important asset class.”
Hunter Wise Commodities specializes in the purchase and sale of precious metals, helping retailers set up their own independent precious metals businesses.
For more information about becoming an independent dealer by working with Hunter Wise Commodities, visit 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/