The final months of 2008 saw dark skies fall over the world’s economy. The stock market collapsed and many people lost a tremendous amount of wealth. A resurgence in gold investing occurred during that time, and the desire to invest in gold is still quite strong. Philip N. Diehl, the President of U.S. Money Reserve, gave a solid podcast interview on the subject of gold investing. Someone who is new to gold invest or is just thinking about the gold market should listen to the podcast.
Diehl suggests that the 2008 financial crisis was a major reason why people are extremely interested in buying gold. They want to be protected in case a similar catastrophe occurs in the future. He also states there are other factors at work, and they are giving interest in gold investing a boost.
When nations and banks start buying up huge volumes of gold, people take notice. China and India are two countries that have opted to drastically increase their stockpiles. Diehl does not mention it on the interview, but Russia is also buying more gold. Diehl does reveal a host of banks are purchasing gold. All of this affects demand. When new reports reveal such massive acquisitions, investors are tempted to buy gold as well. Many are more than just tempted. The take action and buy.
While Diehl talks about gold investing in general, he also mentions that gold coins may be the best choice for investors to direct their attention. Bars and bullion are two other gold assets, but coins made by legitimate mints are legal tender. Gold coins from the vaults at the U.S. Mint are supported by the powerful economy of the United States. Most definitely, there won’t be any worries about fake gold when the coins are distributed from the U.S. Mint. Diehl reminds the listener to keep these facts in mind.
Diehl, incidentally, is a very accomplished former director of the U.S. Mint. His impact on the global distribution of U.S. Mint coins was immense. Today, at U.S. Money Reserve, he hopes to have a very positive impact on the customer service-oriented daily operations of the company. Considering the success of the company’s gold, silver, and platinum coin sales, Diehl is doing a fine job.
The entire interview is available on the EPN podcast network. Any investor wishing to learn more about the gold market should listen.
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