Will We Ever Recover? Posted by James Randolph on December 18, 2008
Will We Ever Recover?
December 18, 2008 – Amidst one of the worst recession cycles in the history of worldwide economies, one thing is clear: the future shines bright for certified gold investors. Gold is trading at around $859.70 per ounce, which is a $120.10 increase in the last 30 trading days equalling a 16.28% jump in price. Yesterday’s high of $883.60 was the highest spot price since October 10, 2008. Silver on the other hand falls $.30 down to $11.08 per ounce and platinum slides down $1 to $862 per ounce.
Gold is looking very positive first 2009 and if it keeps up the way it is right now it’s headed for its eighth straight yearly gain that started in 2001. Today the United States Dollar fell to 78 points on the Currency Index, losing some ground against the Euro. Some market analysts are projecting that the Dollar will gain ground in 2009 and once again be the world’s most sought after currency. Looking at our current economical problems and debt this looks to be very unlikely and I think the dollar may drop a little bit more while gold continues to rise. There’s also been a lot of talk about $25 oil as today’s prices fall to $39 per barrel. Who would have thought this would happen after a summer of insane gas prices at over $150 per barrel. The lower demand for oil is also causing major problems with the Big Three automakers in both the United States and Japan as they continue to close down factories in hope of maintaining their corporations. Have a great day and don’t forget to invest in certified gold!
Senior Staff Writer – Certified Gold Exchange