Articles tagged with: gold price
Posted in Gold, Silver on 5 October 2010
Gold closed at a new record today. The price for gold went as high as $1,342/ounce before settling at $1,340.
Along with gold, silver has also been making 30 year highs. It closed the day at $22.81/ounce. Along with other commodities like copper and tin, these precious metals have been increasing most likely due to fears [...]
Posted in Economics, Gold on 12 May 2010
The price of gold hit a new high of $1,247/oz today, beating it’s previous high of $1,226/oz. According to the Wall Street Journal:
“Gold’s strength indicates investors view the European Union and International Monetary Fund rescue package as a short-term fix that doesn’t reduce uncertainty on how governments will reduce their high debt levels.”
The gold [...]
Posted in Silver on 29 November 2009
Unless you’re living under a rock, you’ve heard about the price of gold hitting a new record almost $1,200 per ounce. A lot of people think gold is overvalued and is currently in a bubble. If anything, with the US government bailout taking on new debt at a record pace, there’s a bubble in US [...]
Posted in Gold on 4 November 2009
Gold hit another all-time high yesterday of $1,885/ounce. This $30 surge happend on news that India bought 200 tons of gold from the IMF. This represents the largest purchase of gold by India in over 30 years. It looks like India is joining China in a rush to diversify away from the Dollar. India paid an average [...]
Posted in Gold, US Debt on 16 October 2009
David Tice is another gold bull who predicts the shiny yellow metal will hit $3,000/ounce during this cycle. While not has bullish as other goldbugs like Peter Schiff who predicts $5,000/oz, he has the same philosophy behind his declaration.
Tice worries about the debasing of the US dollar, and our excessive reliance on foreigners to fund [...]
Posted in China, Gold on 9 September 2009
Yesterday, the price of gold hit $1005/oz before retreating to just under the $1000 level. The question is whether gold will stay at this level or drop back down again like it did last year.
There’s a good chance that this time the $1000 level might stick. The difference between last year and now is that [...]