Friday, April 1, 2016

Gold finishes first quarter of 2016 with best beginning since 1974

When Americans were finally allowed to own gold again in 1974 following 41 years of legal restrictions in the aftermath of Executive Order 6102 by President Franklin Roosevelt, it spawned a massive wave of buying in the first quarter of eligibility that has not been seen in 42 years.

Until now.

Gold's 16.1% surge in Q1 2016 ias the best start to a year since 1974. Overall, this is the best quarter since Q3 1986 and is the best performing major commodity of the year. 
Gold rallied this year as it cemented its status as a store of value amid financial market turbulence and concern about the global economy, which led to speculation that the Federal Reserve would pause on tightening monetary policy in the U.S. Having seen BlackRock's gold ETF halted due to inability to meet physical demand, it appears pet rocks and barbarous relics are 'worth' something after all.

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