Philip Diehl has always been ahead of the curve when it comes to investing in the gold and silver market. His insight comes from years of experience in the precious metal industry. DiehlÕs resume is a lesson in how to win friends and influence people. As a former Director of the United States Mint, and chief of staff of the U.S. Treasury as well as staff director for the Senate Finance Committee, Diehl worked with some very powerful people. When Diehl left government service, he decided to continue his love and fascination for the gold market by accepting the presidency of the U.S. Money Reserve.
Mr. Diehl sat down to talk about gold coins and gold with ePodcast.com interviewed Diehl recently. Listeners got an earful about the precious metal market and what was in store for investors that are taking his advice seriously.
PRNewswire.com also published an article about Diehl and the comments he made on the podcast. Gold appreciated at a steady clip from 2000 to 2011, but gold did slow down. In 2015, gold prices dropped again, but Diehl said the drop didnÕt last long because the stock market is making investors very nervous, and when that happens, the smart investors buy gold and silver. ThatÕs exactly what happen at the beginning of 2016. Gold is up by more than 6 percent in the first quarter of 2016, and that is just the start of the increase that Diehl thinks will be record-breaking.
According to money.cnn.com, the reason that Diehl is so gun-ho about gold is simple. Gold shines the brightest in investorsÕ eyes in times of stress, and in 2016, the stress factor is off the charts. Economists around the world are waiting for China’s other economic shoe to drop with regards to what is included in the US Money Reserve saga. China could send the world into a global recession. But gold doesnÕt have a huge industrial use, so it is not affected by a global slowdown. Chinese investors are pulling out of the Chinese stock market and investing in gold, and U.S. investors are doing the same.
Gold prices are well below the record high of $1,900 an ounce in 2011, but Diehl believes gold will surpass that record in 2016.