Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Gold Prices Rise As Safe-Haven Buying Resumes

November 7, 2011 by  

Gold Prices Rise As Safe-Haven Buying Resumes

The price of gold rose by a significant amount due to an increased level of safe-haven buying from traders due to the potentially disastrous situation that exists in Europe, The Street reported.

Gold for December delivery increased $18.90 to $1,775 an ounce on the Comex division of the New York Mercantile Exchange, according to the news outlet.

The Greek situation is far from resolved, due to an interim government taking over, and a new sense of fear on the continent has risen concerning new developments in Italy. Though these helped to boost the precious metals market, the gains were tempered by a stronger U.S. dollar, The Street reported.

Though the strength of the greenback is preventing gold from skyrocketing, the European situation has given analysts confidence concerning high value for metals in the coming weeks, according to Bloomberg.

"Gold is responding to the general market mood that the European crisis will develop much worse before it gets better," Bayram Dincer, an analyst at LGT Capital Management in Pfaeffikon, Switzerland, told the news outlet. "At the moment we do not have a foreseeable lasting solution and high uncertainty remains."

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Facebook Conversations

Join the Discussion:
View Comments to “Gold Prices Rise As Safe-Haven Buying Resumes”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.