The fear & loathing over Greece’s eminent, potentially epic, financial failure has continued to push gold ever slightly forward. The Greek Debt issue is akin to watching a death-row inmate eating their last supper. The inevitable is going to happen it is just going through motions before the finale. It does have the EU meeting feverishly to fix the crisis but, they will have no answers until July.
This has many in the financial world wondering in what direction they should move to cover any so called fix. There’s no decision out of Europe so we don’t quite know what to do, Ira Epstein, director of the Ira Epstein division of the Linn Group told the WSJ. Gold is acting as a safe haven against what’s happening in a major banking economy in the world—the euro zone. It would seem that once again when the going gets tough the tough move to gold.
This failure is going to have profound effects on the global markets. Maybe, it is time you started your personal Tangible Asset Portfolio to insure against such uncertain markets. A conservative 10% to aggressive 20% of your net worth in a TAP will provide you the peace of mind you need during these uncertain financial times.
Read more: WSJ – Gold Inches Up on Greece Debt Concerns