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Gold Continues Its Winning Streak

May 17, 2010 by  

Gold continues its winning streakThe price of gold continues to hover at record levels after reaching an all-time high of $1,245.40 an ounce on May 11.

Commentators believe that the recent volatility of the stock market is prompting investors to flee to the safety of precious metals, driving their prices up.

In addition, Europe’s ongoing debt crisis—and the nearly $1 trillion rescue package—have been stoking inflation fears and doubts about the pace of global economic recovery.

While high gold prices may appear to make it less attractive for new investors to convert their currency into precious metals, some analysts—such as Jeffrey Nichols, managing director of American Precious Metals Advisors and senior economic adviser to Rosland Capital—are predicting the prices will continue their upward trend, hitting $1,500 an ounce by the end of 2010, quoted by CNN.

For those who would like to make the investment, TheStreet.com, an investors’ website, says physical gold can be bought at various prices and in various forms, including coins, bars and jewelry. It says American Buffalo, American Eagle and St. Gaudens are among the most popular gold coins.

Moreover, gold can be stored in bank safety deposit boxes or at home. Some companies allow investors to store gold with them as well as trade the metal on the market.ADNFCR-1961-ID-19774153-ADNFCR

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  • Al Sieber

    Good,all these gold brokers should be investigated for selling gold “short” on the market. some of these brokers have only 1-physical oz. for 100 oz. sold on paper. silver’s next, there’s a shortage in Europe.

  • Matt

    Check out PHYS – a Gold ETF that actually will provide you the Physical Gold upon request per the shares you own!!

    • Al Sieber

      Thanks Matt.

  • tim J

    Frankly, I think gold is topped out, and when it drops it will loose 75% to about $350/oz.

    • http://none dave

      I don’t know where you live but you are dead wrong about $350.00 gold. It very well may go to $4000-5000 and ounce when the market crashes, and it will crash eventually.

    • Larry Stanley

      TJ, Not sure what will cause it to drop to those levels, is all the fiat money and stock markets all of the sudden going to rebound?
      The printing presses for the US dollar and the Euro are still rolling out the dough so I doubt your theory.

  • Norman

    Hang on boys there’s a little rough patch ahead.

  • Rochelle

    I have been researching buying Silver. It’s doubled in cost since last year and is a lot less expensive. They are using Silver to set diamonds in instead if the ever so expensive gold, and it will drop someday soon. It can’t keep the high price it currently has. For those who bought it years ago when it sold for $300 ro $400 an ounce, can make a killing on the gold purchased years ago. However, Since China has allowed it’s people to purchase Silver, it should be a clue for those who can buy it to do so, and it’s not that expensive. Should our country fall apart, which Obama is doing a great job of doing, dollars are just paper and worthless and those who have precious metals, have something very valuable.

  • http://libertydigest Yo Mama

    Anyone who believes gold will fall to $800.00, $500.00, or $250 must also believe a new ford mustang will cost $2995.00..go figure and a loaf of bread is $.10

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