Gold offers security as Greek banking turmoil spreads
Jul 17, 2015, 7:55 AM | Updated: Jul 29, 2015, 10:29 pm
This article is Sponsored by REPUBLIC MONETARY EXCHANGE
When Greece announced its banks would be closed June 29, the U.S. stock market responded with the Dow falling 350 points and the S&P 500 Index down 2 percent. Not coincidently, the price of gold bullion rose as stocks fell. It’s a regular occurrence.
During times of economic uncertainty, gold is seen by many as an economic safe haven. And the crisis in Greece certainly qualifies in the uncertainty category. As a member of the European Economic Community, the collapse of the Greek economy could destabilize the entire region.
