Gold = $ 1085
Gold surges to new record high
Excerpt:
Gold surged to a new record high price of 1,085.07 dollars an ounce Tuesday, a day after an announcement of a massive sale of gold by the International Monetary Fund to India.
Prices in London hit 1,085.07 dollars per troy ounce and New York prices reached 1,084.70 dollars, breaking records set last month.
The latest surge came a day after the International Monetary Fund announced it sold 200 tonnes of gold to India's central bank over a two-week period last month for a total of 6.7 billion dollars to bolster its finances.
Comment: Gold, deficit spending, and the Dollar
Gold and other commodity prices have resumed their surge in recent months amid a move away from the dollar, which has been slumping. The move accelerated last month on a report that Gulf states may stop using the greenback for oil trading.
Gold also gets support from fears about higher inflation because the metal is widely regarded by investors as a safe store of value.
buying some silver isn't a bad idea just incase i was looking up the prices and there only like 15$ for an American silver dollar, could be a good investment if our my dose go down the shutter.
ReplyDeleteThanks for the great reading, we buy gold buy in a recession. I will pass this on to our Ira clients to read.
Silver is a good investment too! You can buy 20 American Eagles in a roll for about $ 390.
ReplyDeleteSince you like CF and Gold. :) Any idea where to get a widget for a website that will show the current gold, silver and platinun prices written in Coldfusion?
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