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

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18 comments:

  1. elexerdelexMarch 24, 2011 at 2:10 PM

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

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  2. RootYourDroid.netMarch 24, 2011 at 3:11 PM

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

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  3. Aaron M. GipsonMarch 24, 2011 at 3:11 PM

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

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  4. PicnasterMarch 24, 2011 at 3:43 PM

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

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  5. epicseedsMarch 24, 2011 at 4:01 PM

    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. UnknownMarch 24, 2011 at 4:01 PM

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

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  7. edMarch 24, 2011 at 4:02 PM

    i should start investing in gold

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  8. Jok3rMarch 24, 2011 at 4:03 PM

    Nice blog keep posting

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  9. CandleintheDarkMarch 24, 2011 at 6:21 PM

    So much for gold going up forever

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  10. SDGMarch 24, 2011 at 6:46 PM

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

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  11. SFMarch 24, 2011 at 8:31 PM

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

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  12. AnonymousMarch 24, 2011 at 11:13 PM

    That's quite a difference there

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  13. Jessica ThompsonMarch 25, 2011 at 2:32 AM

    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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  14. Patti D.March 25, 2011 at 4:46 AM

    silver is better than gold now

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  15. UnknownMarch 25, 2011 at 6:16 AM

    damn i should have bought gold

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  16. Daniel AndradeMarch 25, 2011 at 9:14 AM

    exelent news for portuguese gold

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  17. ~DSMarch 25, 2011 at 3:30 PM

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

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  18. benchmarkMarch 27, 2011 at 4:41 PM

    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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