Certified Gold Purchases Lift Commodities Markets
Posted by Adam King on February 03, 2010
3 February 2010 – On the strength of a breakthrough against the US dollar, certified gold purchases have lifted the commodity markets for the beginning of February. As the dollar lost its momentum amid renewed economic concerns, gold, silver, platinum and palladium all posted gains, reversing the trends that were in place while the dollar made its move against weaker currencies in Greece, Portugal, Ireland, Spain and other struggling countries. Gold has been particularly robust, posting $35-$40 in gains from January 29th through morning trading on February 3rd.
Most analysts expect gold to climb again this year, some predicting 25% gains or more as a number of countries struggle with their devalued currencies and sluggish economies. Gold has increased in value by almost 300% in the past decade by providing a valuable alternative regardless of the economic conditions
Certified gold is sold as rare coins and bullion, both in bars and coins. It has posted gains in nine consecutive years and investors have used its strength in good times to build wealth and to protect wealth in bad times. As the US dollar Index recently crept upward against weaker currencies, gold prices corrected, preparing it for another potential run.
As the US government continues to prop up its economy with subsidies and handouts, it is introducing an unhealthy amount of new money into the system. While this weakens the position of the US dollar, gold values can rise. Investors, who purchase certified gold coins or bullion while gold spot prices are near the bottom, stand to make substantial gains if prices reach anticipated levels.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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