Frightening Holiday Season Posted by James Randolph on December 23, 2008
Frightening Holiday Season
December 23, 2008 – Gold falls a bit today on the COMEX as lower oil prices caused fear in investor’s minds, leading the way for a slow and frightening holiday season. Global economy continues to get worse and will face the longest recession in history if this continues until after April, which is very likely.
Gold is trading at around $842.90 per ounce, down $4.70 for the day but oh $41.30 in the last 30 trading days and $31.20 in the last 365 trading days. Silver is trading at around $10.68, down $.12 for the day and platinum sit still at $848 per ounce with no movement due to a still auto making industry. Certified gold on the other hand has maintained its value and most rare coins are trading at the same price they were last week. Oil falls two dollars down to $33.87 per barrel and it’s just hard to believe that it has fallen 73% from July’s record of $150 per barrel. Below is a frightening prediction by Swiss guru Marc Faber:
“Catastrophic 2009 for the global economy, with recovery hope being pushed back as far as five to ten years.”
If this were to happen than certified gold would be a key alternative investment, maybe even a key primary investment for people looking to thrive and survive during quite possibly the worst time in global financial history. That being said, invest properly and have a beautiful holiday season, we may not be as fortunate next year.
Senior Staff Writer – Certified Gold Exchange