The price of gold hit a new record today after data from the United States showed slower than anticipated economic growth. Costs for food and gasoline have risen, and consumer spending has slowed. The US debt and out-of-control spending, and borrowing has affected the U.S dollar which has continued to slump. This comes on news…
Category Archives: Price of Gold
Price of Gold Rebounds
The price of gold rebounded today following Tuesday’s decline and the announcement from the Federal Reserve that they will keep their key interest rate at a historic low rate of low range of 0% to 0.25%. The Fed came to a unanimous decision to let its controversial $600 billion treasury bond purchasing run its course…
Price of Gold Increases Above $1500 An Ounce
The price of Gold increased above $1500 an ounce yesterday, and today continues to climb. $1500 an ounce gold was an all-time high milestone. Today major stock markets shot up in large part due to strong corporate earnings in Europe and the United States. Overall there was a prime commodities rally after the Dow reached…
Price of Gold Slid 1 Percent Today
The price of gold slid 1 percent today on news of oil declines of 3 percent. Oil prices have slumped for two days in a row. Goldman Sachs is advising its customers to sell investments in oil, platinum, copper, and cotton. Goldman argues that record levels of speculative trading of crude has push prices in…
Will Gold Hit $1500 an Ounce?
Gold speculators and traders have wondered for a while now whether gold will reach $1500 an ounce in the near future. The gold market like other investments doesn’t move in straight lines but rather in waves of up and down activity. This presents a unique opportunity for gold investors to profit on the short term…
Price of Gold Declines
The price of gold declined today on news that the precious metal has been over traded as an alternative to a weakened U.S dollar. Gold had reached a high of $1387 on Thursday during exciting morning trading. Investors are eagerly waiting for Ben Bernanke the Federal Reserve Chairman to deliver his address on future monetary…
Gold Price Hits New Record
The gold price hit an new record today of $1370.77 an ounce and silver has reached a thirty year peak due in large part to the U.S Federal Reserve Signalling a second stimulus was needed. This year alone gold has improved and rallied 25 percent against a weakened dollar. Results from JPMorgan Chase JPM.N, the…
Gold Declines As The Dollar Gains Strength
Gold fell to the lowest levels in 6 1/2 weeks as news that increased home sales boosted the U.S dollar. The stronger dollar pressured metal prices overall into a decline, however the drop was stalled due to bargain hunters. Volume is expected to be mild for the duration of the holiday trading week On the…
Gold Prices Have Soared to Record Highs
With all the printing of money going on around the world gold investing has become the ultimate safe haven for a hedge against weakening currencies and inflation. India’s central bank has just purchased 200 tonnes of gold from the International Monetary Fund. The 6.7 billion dollar purchase surprised the markets and was the biggest single…
Gold Price Per Ounce hits Near Record of $1,150 oz
Today gold prices hit a record high of $1,147.45. This coincides with a weakening of the U.S dollar with the news from the Federal Reserve that interest rates may not rise again until 2012. Major concerns with a sluggish U.S recovery combined with possible inlation is providing support for gold. “I think what we’re seeing…