A lot of people are focused on what’s going on in Ukraine right now. Things seem to be changing from hour to hour in the Ukraine. The parliament in the Crimea has been occupied by rebel forces. The country is split in two, with one wanting to join Russia, and the other wanting to join the EU. I hope it doesn’t slip into civil war. This instability has caused gold to consolidate its recent gains at the highs, and the Swiss franc is at a 10-month high against the euro. So we will have to watch this situation closely.
In addition to the geopolitical instability, we also have the Indians continuing to discuss repealing the import taxes on gold and especially silver. This would be a great thing for consumption because consumption will go way up. Indian gold demand was certainly climbing toward record highs before the government attempted to choke off the demand with punitive taxes.
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