Posts Tagged ‘ Unemployment ’

Gold Prices Jump Past $1,400 AGAIN!

500g silver bullion bar produced by Johnson Ma...
Image via Wikipedia

The price of gold has been surging this year but saw a small dip last month, falling below its record breaking and headline making high of $1,424.50 an ounce. On Friday December 3rd gold once again delighted investors when it settled $6 dollars shy of its record high. Many market analysts are saying it is only a matter of time till gold goes even higher and set a new record. It seems I will be blogging about the price of gold for quite some time.

The reason for this latest spike is less exciting, gold prices rose in reaction to the Labor Departments latest announcement that unemployment reached a hit 9.8. This is the highest level of unemployment in months and added further doubts that the U.S economy will recover anytime soon. Investors are still not confident of in the dollar and area searching for assets that seem like safe havens. Europe’s Euro is facing similar problems creating a prolonged bull market for precious metals. Collateral loan.

On  a related note the prices of silver also rose! I wrote about the amazing and volatile silver market last week. The price of silver was up 38 cents at $29.76 and is strongly expected to reach a 30 year high of $30.

-Carlos at Raymond Lee Jewelers

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Gold Is Over $1200 Per Ounce! How Much Is Your Gold Worth Today?

Crystaline Gold
Image via Wikipedia

Whatever it is that caused the market to drop 1000 points in a day, the Greece riots and euro instability affected precious metals, especially gold in a big way! Some speculate that the market collapse was due to a trading error. Others  say the market crash was attributed to policies associated with a stock being traded on one market and not being traded on another.When was the last time the euro was $1.27 against the dollar? Holy cow!  Maybe it was just a bad day for investors? Not all investors! People that believe in the power of gold are excited this week. Today is Saturday, always a scary day for the gold market when it closes high, especially if you have not sold at that high. What will monday morning bring for the price of gold?The fact the U.S. unemployment rate hit 9.9%, even though we added over 200,000 jobs to the economy has caused scare in the economy. Because of this investors flock to gold. The over all feeling is that gold is strong going into the weekend and will continue into early next week. There are a ton of factors that will contribute to the price of gold next week. Germany holds the key to almost 30 billion in bail out dollars. Which has mostly been approved in Germany to go forward. It is possible that financial troubles can spread throughout the European Union. Besides problems outside the USA, how will the market perform or not perform next week. Gold at over $1200 per ounce is very high. Can it go higher? Sure. How high? Who knows. We will see.

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