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Wednesday, September 9, 2009
Gold touches US$ 1,000. Time to buy?
Interest in gold continued to rise as for the first time in six months, gold futures breached the US$ 1,000 per ounce mark yesterday. This takes the year's gain to nearly 14% and sets up the yellow metal nicely to close in the positive for the ninth year in succession. It should be noted that the turmoil in the global financial system has led to the central banks around the world flooding the market place with trillions of printed money, giving rise to concerns of hyperinflation. While inflation not raised its head just yet, it is only a matter of time and hence, we believe that gold may be one of the best bets around to nullify the effects of the same on your portfolio.
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2 comments:
Hello Sir,
Nice post. I totally agree with you.
Today, on Sep 11, 2009, Gold could not cross crucial level of US $ 1007, though it crossed US $ 1000 on Sep 09, 2009. After it crosses 1007 then only one can see rally in Gold.
Hope will cross 1007 in short time.
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