An industry preaching stability in tumultuous times has refined its pitch around the troubles of a U.S. Senator.
While gold merchants — ubiquitous on the ad slates of late night cable TV — make sure to note that corruption is bad, they also are trying to put a shine on the Senator’s legal troubles. | David Gray/AFP/Getty ImagesBut for one industry, the New Jersey Democrat’s latest brush with the law has presented a unique and alluring opportunity.
That executive, Genesis Gold Group CEO Jonathan Rose, told POLITICO that he believed the “Menendez story has kind of got some people interested more, maybe, in metals — people asking, you know, why did he take a bribe in precious metals.” “I just think in terms of … what gold stands for, it’s a storage of wealth,” he said. But the allure of owning gold doesn’t seem to hurt either: “If you’ve ever held a gold coin or gold bar in your hand, it kind of answers a lot of [those] questions without even talking,” Rose noted. “The attractiveness of gold has always been there.”
More influential on the gold market, Rose and another industry executive said, have been the pervasive economic volatility over the past few years and inflation, coupled with the bank collapses of this spring.
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