Thursday, March 24, 2011

Gold near $1450

Re-ignited concerns regarding eurozone sovereign debt are once again buoying gold futures to the upside, with the most active contract for May delivery surging to a fresh historic high at $1448.60 a troy ounce over New York.

While tensions in the Middle East and Libya continue to support robust safe-haven demand, concerns over sovereign debt in the periphery of the European Union is once again rearing it´s ugly head following the collapse of the Portuguese ruling party yesterday. With the Parliament rejecting proposed austerity measures, analysts are now expecting the country to be forced to tap the EU´s revamped bailout fund, with pressure rising on other bigger community members including Spain.

source: fxstreet.com

19 comments:

  1. wow... looks like you should not have bought gold around 2 o'clock!

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  2. I've been thinking about investing in gold. Seems like a smart choice for my portfolio

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  3. I hope those Portuguese legislators are satisfied with the mess they are contributing to...

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  4. I hope it doesn't take big effect to Spain...

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  5. We are living in some depressing/hard times. Hopefully we can pull ourselves out of this mess. It is no longer a country problem but rather a worldwide problem.

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  6. Hmmm, now may be the time to sell. I bought in at $1138.25...

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  7. i should start investing in gold

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  8. You know, Fallout's idea of using bottle caps is really starting to sound like a good idea.

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  9. It has been intense watching what the turmoil in the middle east has been doing to the world economy.
    Followed!

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  10. That's quite a difference there

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  11. So would you suggest buying into gold to take advantage of this trend? Check out my new blog, puzzledyet.blogspot.com if you haven't already!

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  12. silver is better than gold now

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  13. they say gold goes up in recessions, what does all-time-high mean? :O

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  14. Gold is a bad investment, historically. Sure, it's gone through the roof right now, but adjusted for inflation it did nothing for 40 years until the '70's. And it's too high to buy right now.

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