Fiscal Cliff Will be a Financial Superstorm, Investors Buying Gold, Reports Gold Price

New York, NY (PRWEB) November 28, 2012

The fiscal cliff is a term popularized by Federal Reserve chairman, Ben Bernanke that signals the expiration of Bush tax cuts and the activation of the terms of the Budget Control Act of 2011. If these laws go unchanged, it will result in over $ 600 billion in tax increases and spending cuts as well as a reduction in the budget deficit starting midnight on December 31, 2012. The fiscal cliff would result in lower national debt in the long term, but may cause a negative impact on investment markets and a second economic recession in the short term.

Arthur McGuire, Vice President of Gold Price says Wise investors are buying gold because they dont want to get caught in a bad situation when everything hits the fan. As the December 31, 2012 deadline for the fiscal cliff approaches, investors are stocking up on gold, and as a result, gold prices have increased nearly 4% in November alone from $ 1,680 per ounce to $ 1,744 per ounce.

McGuire adds The bottom line is that there are only two things that can happen with the fiscal cliff. We can jump off the cliff now, or we can reschedule the jumping for later. Either way, gold prices will most likely benefit because investors will need a solid safe-haven wealth preservation asset like gold that thrives in the face of economic instability.

Gold Price (GP) is a leading precious metals website since 1992. They offer investors a free award-winning gold starters kit by visiting or calling 1-800-767-1423.

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