Posted by Adam King on December 19, 2008
December 19, 2008 – The world remains in unrest as civilians await government assistance to our current economical problems. Gold slides a bit today for the second day but projections for the end of the year are saying that it will end the year in the $850-$860 range. The current gold spot price is $837.10 per ounce, a $16 drop for the day but still up $102.20 for the month and $36 for the year.
The dollar gained some ground against the euro today because the European Central Bank cut its deposit rates and lifted lending rates similar to what the United States has done earlier this week. People all over the world are uneasy about the future of global economy. Greece, France and Italy are experiencing major riots as students and youth uprising and protests against their governments. The youth are angry that their leaders have made their futures harder by unwise decisions. Their total cost in damages has already tallied up to €1.3 billion, certainly proving that the citizens are extremely unhappy.
Oil prices continue to fall and are currently sitting at $34 per barrel, which is its five-year low. Pres. elect Obama’s stimulus of 675,000,000,000 to 775,000,000,000 over a two-year period has been all the talk lately as Americans continue to face unemployment and other financial problems. The current United States unemployment level lies at 4,384,000 people without jobs. Let’s hope that 2009 has better news for us. Have a great weekend!
Senior Staff Writer – Certified Gold Exchange
US Gold Market