More positive news for gold as an investment. Leonard Kaplan comments:
"There is very important tax legislation in front of the Senate and the House of Representatives regarding the precious metals. And, if passed, will strongly encourage investors to reappear in the precious metals markets. Such legislation would allow capital gains treatments for the purchase of precious metals, just as in stocks and bonds, rather than short term capital gains, which are taxed at a higher rate. While this legislation, and its possible repercussions, has been relatively ignored by the industry and almost shunned in the press, I believe it is of major importance. It legitimizes the precious metals. It puts them on the same level playing field as other investment vehicles and could bring back investor demand. Which is something that these markets truly and desperately need. After all, it is the investor, who operates at the margin of the supply/demand fundamentals, who, at the end of the day, sets the prices of gold, silver and platinum." |
