Metals surge as U.S and UK economy grind to a halt
Adam Pike, News Editor
29 Apr 2016, 9 a.m.
The U.S. economy is grinding to a halt as growth stalls and anxiety rises. The economy expanded by 0.1% in the first quarter down from 0.4% in the last quarter of 2015.
Growth in the United Kingdom has slowed to 0.4% as mainstream pundits blame uncertainty over July’s European referendum, while George Osborne feels it’s easier to blame the UK’s slowdown on a lackluster Chinese economy.
After endless rounds of money printing and monetary intervention it is becoming clear central banks don’t have the power to control the economic universe. If financial markets lose confidence in their economic masters there will be hell to pay.
It appears we are reaching an important reflection point. Should the U.S economy continue to slow the Fed has no other choice but to fire up the printing press and finally admit their inability to control the economy.
It appears the metals markets can smell this fear. Year to date the gold price advanced 21% and silver 29%.