The purpose of this newsletter is to help readers increase their net worth. Maximize your RRSP contribution A simple and effective way to boost your RRSP contribution is to have your employer make direct contributions to your RRSP plan. If you were scheduled to receive a bonus, with the cooperation of your employer, have the employer pay the bonus directly into your plan. Yes, the bonus is taxable, but you are able to put a greater sum to work for you immediately, growing on a tax-deferred basis in your RRSP plan. In a word or two, supply and demand.
Supply has overtaken demand.
These sales have more than offset demand. To this must be added recent event in Asia. Asian consumers are a key source of world demand and they began dumping gold for U.S. dollars when their overvalued currencies came under attack. In addition, because gold is regarded as a hedge against inflation, the slowing Asian economies are expected to have a deflationary effect world wide, hence less of a need for a hedge. The answer is a qualified yes.