Slower Than Ever Posted by James Randolph on December 22, 2008
Slower Than Ever
December 22, 2008 – The global economy continues in its slow state and 2009 projections are looking rough for everything besides certified gold. Gold rises today for the first time in three days on a solid foot as it heads for its eight-year consecutive gain. The current spot price is $845.70, up $7.80 for the day, $44.10 for the month and $34 for the year. Silver is up one cent at $10.83 per ounce and platinum sits at $857 per ounce, up six dollars for the day.
The United States Dollar comes in a little lower at 80.92 on the currency index and I wanted to point out a very interesting comment I read on a MarketWatch report earlier today:
I agree, dollar is hovering around .80 and gold is hovering just below that round number of $850. It’s like a staring contest…I wonder which will blink first, gold or the dollar?
In the long run, the dollar will close its eyes for a long sleep…or coma
I’m glad to see that someone realizes the severity of our financial crisis. If things keep going the way they are now the only thing in our future is a deeper recession where possible Depression, both which are very likely. Governments all over the world are scrambling to do anything they can to save their economies and their currencies and wise investors need to look towards the future in order to prevent extremely unfortunate events. All we can do is continue hoping while investing appropriately. I wish you a happy holiday season and a beautiful day!
Senior Staff Writer – Certified Gold Exchange