Gold prices rose above $1,000 per ounce on Tuesday to its highest since March 2008 -- suggesting investors are wary of the U.S. dollar's weakness and expect international interest rates to remain low for some time.
The gold contract for December delivery traded up $6.50, or 0.7 percent, at $1,003.20 per troy ounce on the New York Mercantile Exchange. It had gone as high as $1,009.70; that is the highest since it hit a record of $1,033.90 on March 17 last year.
Gold is typically bought as an alternative to the dollar among safe-haven assets favored by investors seeking to preserve capital. So its rise often correlates to a drop in the value of the American currency.
That is what happened in spring of 2008, when worries about the financial crisis brewing in the U.S. helped drive gold to a record. Gold last went over $1,000 in February.
"It is mainly the reflection of the weakness of the dollar," said Julian Jessop, economist at Capital Economics.
The dollar fell to 92.32 yen on Tuesday from 93.05 yen the night before, while the euro strengthened to $1.4467 from $1.4332 as stock markets rose and investor sentiment improved.
Jessop noted, however, that gold was also being boosted by market expectations that global central banks would keep their interest rates low for some time to come. One disadvantage to holding gold is that no interest is earned -- but rates on dollar-denominated assets such as government bonds have fallen sharply, lessening that disadvantage.
"Near-zero interest rates in many of the world's largest economies reduces the opportunity cost of holding gold," Jessop said.
The fact that 20 of the world's rich and developing nations promised over the weekend to keep in place their stimulus measures -- which include both spending as well as low interest rates -- reinforced the appeal of gold.
Jessop was not convinced gold could sustain such high prices for very long or push much higher, since consumers quickly start selling gold items to take advantage of stronger prices.
As the U.S. economy continues to writhe in the clutches of recession, sustainable growth — both in corporate profits and economic output — seems distant.
In China, however, near-term recovery is a reality.
Real estate, automobile, and industrial sales have all rebounded, driving stocks on the Shanghai exchange up as much as 85% for the year.
In fact, the acceleration of China's comeback has been so strong the World Bank recently increased its estimate for the country's GDP growth this year from 6.5% to 7.2%.
All of this makes China an alluring prospect for investors again. Especially when you consider. . .
China's Gold Investment Potential
In the mid-1990s, the Chinese government revolutionized the country's gold industry.
Lawmakers began reforms that encouraged small gold producers to consolidate and, more importantly, allowed foreign companies to form joint ventures with Chinese companies.
It was a brilliant move.
Foreign companies — mainly from the United States and Canada — brought modern mineral exploration techniques, management practices, financial controls, and industrial, environmental and safety standards.
The single most important asset foreign companies brought the Chinese gold industry, however, was money.
As foreign investment capital gushed into China, the number of projects skyrocketed, leading to new gold discoveries.
As a result, China's total gold production has steadily increased 7.4% annually and 66.9% since 1999. And in 2007, China became the world's largest gold producer, overtaking South Africa, which held the title as top gold producer for over 100 years.
* December gold GCZ9 slipped $14.20, or 1.50 percent, to $934.50 an ounce on the COMEX division of the New York Mercantile Exchange.
* Range extended down to $931.30, lowest since July 30, from $950.40.
* Investors sold gold along with other metals and commodities as investors returned to a more risk-averse posture - traders.
* The dollar was sought as a less risky currency, undermining dollar-denominated gold's value in overseas markets - traders.
* Dollar hit a two-week high against the euro as doubts about the strength of the U.S. recovery caused heavy selling in crude oil and global stock markets. [USD/]
* Oil's steep decline also hit gold as investors unwound their yellow metal holdings as a guard against inflation - traders.
* Crude oil prices slid below $66 a barrel, their lowest level this month, as investors became more cautious about the pace of global economic recovery. [O/R]
* Monday's selling follows heavy selling in Friday's session after a gloomy consumer confidence reading cast doubt on an economic pickup - traders.
Silver investors care about two things: the value of the metal today, and its prospects for tomorrow.
And with the U.S. dollar losing more might every day, the value of raw silver has never been in greater demand.
For investors like us, it has never been more important to understand how to avoid costly premiums that add nothing to the value of the commodity you're trying to acquire when you buy silver coins.
Take a look at the following premium rates for these popular bullion coins, which have "legal tender" status.
The percentages listed below represent the average premium you'd pay right now above the value of the raw metal alone:
American Silver Eagle — 21%
Canadian Silver Maple Leaf — 15%
Austrian Silver Vienna Philharmonic — 16%
For investors seeking only to benefit from owning the metal, paying this 'cost to play' is counterproductive, to say the least.
The cheapest silver bullion coins are privately minted.
Lacking the status of legal tender, and with little to no collector's value to speak of, these bullion coins maximize the purchasing power of your dollars.
Here are a few to consider and their average premiums right now:
Pan-American Silver — 8%
NWT Mint Silver Bullion — 8%
Sunshine Silver Rounds — 6%
Whether you decide to go with these or with another brand of privately-minted bullion coin, remember to shop around for the lowest premium. Armed with this information, you'll guarantee yourself the most silver for your buck.
During precious metal bull markets, gold usually gets all the media attention. . . but the biggest gains go to silver.
In fact, silver prices have consistently outperformed gold during bull markets — doubling, tripling, even quadrupling the price of the precious yellow metal. So it should go without saying that a well-diversified precious metal portfolio includes silver.
One of the most popular ways to invest in silver are bullion coins, the cheapest and most direct way to own silver.
The retail market offers a variety of silver coins that will maximize profit. But investors are urged to exercise caution when considering some bullion coins. Here's why. . .
All bullion coins — gold and silver — have a premium included in their price. This premium is an additional cost over spot prices that covers manufacturing, distribution, and administration costs incurred by the mint or refiner in making the coin.
The result is paying over silver's spot price.
For those coins classified as "legal tender," or those with collectible or numismatic value, the premium is higher still.
A 1-ounce American Silver Eagle, which has a face value of $1, has a much higher premium than a 1-ounce privately-minted, non-legal tender silver bullion coin in part because of its legal tender status.
As a silver investors, however, we aren't concerned with a coin's legal tender status because— let's face it, what kind of investor would care if their 1-ounce, 99.9% pure silver coin, whose silver value stands at around $14 today, will be accepted at the local store in exchange for a dollar soda?
The same goes for numismatic coins, whose value is not solely dependent on the metal from which they're minted, but rather from their rarity and collectability.
Gold and silver prices rose to 2-month highs today after a US jobless report boosted sentiment in precious-metals trading.
The US Labor Department reported that first-time claims for state unemployment benefits declined by 38,000 to 550,000 last week. The news helped push gold for October delivery to a high of $972.70 an ounce, its highest level in 8 weeks. Silver also gained on the news pushing over $15 an ounce since mid-June.
While we remain bullish in the mid- to long-term, gold prices may experience a pullback as investors take profits in the short-term.
In other precious metals, both platinum was last seen down about $15 to $1,278 an ounce, meeting strong resistance at the $1,300 level. Palladium was also down almost $6 after hitting a 10-month high of $278.80.
Meanwhile, the US dollar slightly recovered after hitting its lowest level since September 2008. The US Dollar Index, a measure of the dollar's value against a basket of six foreign currencies, was down to a low of 77.428.
Over the past two months, gold prices have settled into the $910 to $950 range as investment demand for the precious metal continues to balloon. Gold stocks, on the other hand, remain in the doldrums.
The gold stock market is now dependent on a new breakout for precious metals prices. And in order for precious metal stocks to disconnect from the global financial turmoil, gold and silver prices will need to make some pretty big moves.
In the case of gold, I believe the yellow metal would need to move over $1,100 an ounce to force this disconnect from general market activity. In the case of silver, I am looking for a breakout in excess of $23 an ounce.
So, the question is: when will this next wave hit?
Gold was up pretty big this week. But I don't see the big breakout occurring until sometime in the fall when a confluence of factors appears. In the meantime, I expect to see a sideways trading pattern for the next six weeks or so before things start to heat up again.
I continue to believe with all that is happening in the United States and worldwide, higher gold and silver prices are going to rule the day. This would dictate for us to stay on course with gold stocks and not fret too much about what happens over the summer.
Physically owning the metal is the most direct and traditional method of investing in gold. In some countries, gold bullion can be bought and sold at major banks. In most regions, however, bullion dealers provide the services necessary to purchase physical gold.
Gold bullion is generally sold in two main forms, bars and coins.
Gold bars are available in various weights, generally ranging from one ounce to one kilogram. There are approximately 100 active gold refiners around the world whose bars have earned “good delivery” status from one or more of the associations and exchanges. Johnson Matthey, Pamp Suisse, and Credit Suisse are among the most popular.
Gold coins are another way to invest in physical gold. Priced according to their weight and purity, coins often carry a slightly higher premium than gold bars. Among the most popular are the American Gold Eagle, American Gold Buffalo, Canadian Gold Maple Leaf, Australian Gold Nugget, South African Krugerrand, Chinese Gold Panda, and Austrian Gold Philharmonic. All of these coins contain one troy ounce of gold— except the American Gold Eagle, which is only 91.67% pure gold.
Both gold bars and gold coins are priced according to their weight and purity, but they always carry a premium above spot gold prices. We recommend investing in gold bars because the premiums are always lower than coins.
Investment #2: Gold ETFs (Exchange Traded Funds)
If you're not comfortable owning and storing the physical metal, gold Exchange-Traded Funds (ETFs) are your next-best bet.
Gold ETFs are special types of exchange-traded funds that track the spot price of gold and are traded on major stock exchanges such as New York, Paris, Zurich, Tokyo, and London.
The main drawback is the management fee charged by the issuing company. On average, a commission of 0.4% is charged for trading in gold ETFs, in addition to an annual storage fee.
U.S.-based transactions are a notable exception, where most brokers charge only a small fraction of this commission rate. Annual expenses such as storage, insurance, and management fees are charged by selling a small amount of the gold represented by each certificate— a process that gradually diminishes the value in each certificate. In some countries, gold ETFs represent a way to avoid the sales tax or VAT which would apply to physical gold coins and bars.
In the United States, revenue from the sale of a gold ETF is treated as a sale of the underlying commodity. Thus, it's taxed at the 28% capital gains rate rather than the 15% long-term capital gains rate for non-collectibles.
Investment #3: Gold Production Stocks
These do not represent gold at all, but rather are shares in gold mining companies.
If the gold price rises, the profits of the gold mining company could be expected to rise. As a result, the share price may rise. However, there are many factors to take into account, and a rise in the price of gold will not always lead to a rise in the price of a share.
Unlike gold bullion, which is regarded as a safe haven asset, unhedged gold shares and funds are considered to be higher risk, more volatile investments. This instability is a result of the inherent leverage in the mining sector.
For example, if you own a share in a gold mine where the costs of production are $250 per ounce, and the price of gold is $750, the mine's profit margin will be $500. A 10% increase in spot gold prices to $825 per ounce will push that margin up to $575, which actually represents a 15% increase in the mine's profitability and a potential 15% increase in the share price. Conversely, a 10% fall in spot gold prices to $675 will decrease that margin to $425, which actually represents a 15% drop in the mine's profitability and a potential 15% decrease in the share price. The amplification of gold mining profits during periods of rising prices can cause a gold rush in mining exploration.
In order to reduce this volatility, many gold mining companies hedge the gold price up to 18 months in advance. This provides the mining company and investor with less exposure to short-term gold price fluctuations, but reduces potential returns when the gold price is rising.
After waiting for the Gold Price to drop, i decided to open a Gold saving acct this morning at UOB . Price has dropped from $44.60 to $43.43 today. After waiting for about 30 min at the counter account opening since there is only 1 desk counter available. When it is my turn , the lady Miss Wong is very friendly and knowledgeable to my question. Unlike... you know, some CSOs are not experience and every question you ask, they will say pls hold on, i check with ......
Glad to have increased my Gold investment. Will plan to go for some physical Gold again if price dip further a bit. At this point of time writing, Gold price has increased from USD927.00 this morning to USD936.30 night time 22:50 Singapore Time. How about you ?
Gold fell in London and New York to more than a one-week low as a stronger dollar dimmed the metal’s appeal as an alternative investment.
The Dollar Index, a gauge of the currency’s value against six counterparts, climbed for a second day, paring this month’s loss to 1.1 percent. The currency’s advance contributed to declines in all precious metals, oil and copper.
“The key driver is very much now the currency movement,” Suki Cooper, an analyst at Barclays Capital, said today by phone from London. Gold may trade little changed through August as investors in Europe and North America take their summer vacations, she said.
Gold futures for August delivery fell $5.20, or 0.6 percent, to $933.90 an ounce as of 8:40 a.m. on the New York Mercantile Exchange’s Comex division. The contract earlier traded at $932.80, the lowest level since July 17. Bullion for immediate delivery in London dropped 0.4 percent to $934.05 an ounce.
Demand may pick up in September before the Indian wedding season begins in October, Cooper said. India is the world’s largest consumer of the precious metal.
The next support level for the metal, indicating clusters of buyers based on technical charts, is at $931.60 an ounce, Credit Suisse said in an e-mailed report today.
Gold holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, fell 3.36 metric tons to 1,083.25 tons as of July 28, according to the company’s Web site.
Spot silver lost 0.9 percent to $13.6150 an ounce. Platinum declined $24.30, or 2 percent, to $1,176.20 an ounce and palladium shed $4.65, or 1.8 percent, to $256.10.
Today we'll look at some of the myths and misconceptions these same institutions want you to believe, along with the down-to-earth realities that will put your mind to rest about the unique benefits of owning gold.
Gold #1: Stocks always outperform gold
Fact: This is a misrepresentation popularized by institutions whose job it is to sell you stocks for commission, regardless of whether you see gains. But the truth is gold has increased by as much as almost 3,000% since the US abandoned the gold standard and the metal was allowed to trade freely on the open market in 1971. Meanwhile, the Dow Jones Industrial Average has only increased by about 900% since that time. Even at the top of the market, when the Dow Jones was over 14,000, the index had only gained 1,500%.
Gold #2: Gold is a risky investment
Fact: Gold is the opposite of risky. In fact, it's one of the safest investments you can make. And that's simply because gold can never be considered as a liability. Companies can go fall to zero.
Of course, every investment carries some degree of risk. The price of gold is subject to supply/demand fundamentals, currency fluctuations, government and central bank actions, etc. But the value of physical gold can't disappear in the middle of the night with a crooked investment manager or in the wake of a collapsing government.
Gold #3: Gold is a poor hedge against inflation
Fact: Gold is actually one of the best hedges against inflation. Consider this. . . In 1971, the factory sticker price for a Mustang Boss 351, Ford's final muscle car masterpiece, was $5,198. If you decided to hold onto your cash and buy a car today, your $5,200 would only make for a good down payment. The lowest MSRP of any vehicle sold in the US today is about $11,000—and that's for a tiny plastic death trap. But say that you bought gold instead of holding cash. At the time, $5,200 would have also bought you about 150 ounces of gold. Those same 150 ounces of gold are now worth over $140,000 at today's gold prices. With that kind of money, you could buy a brand new, fully loaded BMW M6. . . plus have an extra $20,000 leftover to put towards gas.
Gold #4: Gold ETFs or gold mining stocks are a better investment than bullion
Fact: This is another myth touted by institutions interested only in commission. It's true that gold ETFs and gold mining stocks are a slightly more convenient way to invest in gold. But as I mentioned in Gold Myth #2, funds can become defunct and companies can go belly-up.
It's also important to note that while gold ETFs do represent shares of the physical commodity, they end up costing you more in the long run because of annual storage fees. Owning and holding physical gold in your house costs you nothing.
Gold #5: Physical gold is illiquid
Fact: It may not be accepted by most vendors in lieu of cash, but the liquidity of gold has increased significantly over the past few decades thanks to the large number of brokers streamlining the process of buying and selling. Today's brokers have made trading gold as easy and attractive as possible by offering nearly instant payments and guaranteed sales prices.
An easy way to significantly increase the liquidity of your physical gold investments is to buy small coins and bars that are minted by a government or well-known refiner. You can purchase gold coins as small as 1/10 of an ounce, and you can buy gold bars weighing as little as small as 1 gram. These small gold coins and bars offer higher marketability than their larger cousins simply because they are much easier for private individuals to afford.
Conclusion
With its reputation for value stability and long-term growth spanning most of recorded human history, gold remains a popular and viable method of preserving and growing wealth during economic downturns as well as periods of prosperity, even today.
Those that will have you believe otherwise argue against gold ownership out of a purely pecuniary interest. Take hold of your future today and make your decisions based on objective fact, not self-interested fiction.
GOLD investing is not simply a matter of buying a piece of the metal to lock in a safe place. There are many ways to own gold and, quite often, you do not see the actual thing at all. For instance, Singaporeans can buy gold by using their Central Provident Fund Ordinary Account savings to invest in gold savings accounts or gold certificates. Their value mirrors any rises or falls in gold prices.
Bars and coins
ONE way to get your hands on gold is to buy products such as gold bullion coins and gold bars in various sizes and weights. These investments - unlike a paper gold investment - are subject to goods and services tax (GST) in Singapore, which means an investor will lose 7 per cent of his investment upfront.
Coins are usually available in denominations of one ounce, 1/2 ounce, 1/4 ounce, 1/10 ounce and 1/20 ounce.
When investors sell gold to a bank, for instance, the institution will want to make a profit on the prevailing gold price. That differential starts from about S$120 per kg.
Banks that sell physical gold include United Overseas Bank (UOB) and the Canadian Bank of Nova Scotia.
Certificates
WHEN you buy a gold certificate, you do not incur GST, as you do when you buy physical gold. However, there is an annual administration fee of S$30 per kg of gold.
At UOB, a gold certificate is issued in 'kilobars', which are kilogram bars of gold. In a single certificate, you can buy kilobars of 999.9 fine gold in multiples of one up to a maximum of 30. Gold is rated according to its purity - and 999.9 means extremely pure.
At current gold prices, one kilobar costs about S$35,000.
For die-hard gold investor and retiree Christopher Na, it has been a painful wait to see his investment shine. His foray into gold began in 1993 when he pumped his life savings of about S$200,000 into 11kg of gold, which he bought at US$330 (S$483) per ounce.
He prefers to buy gold certificates as they do not incur GST. He also opted for certificates because he wanted to buy more gold by borrowing money using his certificates as collateral.
So far, he has piled up 29kg of gold in gold certificates from UOB and has taken out bank loans of about $500,000. Based on the current price of US$760 an ounce, his 29kg investment is worth about $1 million.
Mr Na does not mind paying the monthly loan interest of S$3,000. 'As long as the price of gold rises beyond what I pay for the interest, I will keep on buying gold.'
Savings accounts
AN INVESTOR looking for the excitement of frequent trading might want to consider a gold savings account.
You start with a minimum purchase of 5g of 999.9 fine gold. You can then buy or sell in 1g lots.
The customer records his purchases and sales in pocket-sized passbooks as deposits and withdrawals. UOB charges an administration fee that is subject to GST.
Margin trading
CUSTOMERS can also open a margin trading account to trade London gold or gold futures over the phone on a margin basis.
They can even sell short in gold with the account.
Unit trusts
ANOTHER option is to invest in unit trusts such as UOB United Gold and General, which invests in publicly listed companies that mine gold.
As with other unit trusts, an investor is subject to subscription and annual management fees, said IPP Financial Advisers investment director Albert Lam.
Exchange-traded fund (ETF)
FOR retail investors, an ETF offers a convenient way to buy gold with relatively modest sums, and without the custody, storage and insurance charges that typically accompany bullion investments.
An ETF is listed on a stock exchange, and is bought and sold just like shares.
In February, investor Dennis Ng pumped 5 per cent of his investment portfolio into StreetTRACKS Gold ETF. Since then, the value of his investment has risen nearly 20 per cent, to US$75 a share. His initial investment cost him US$63 a share.
Already listed in New York and Mexico, this gold ETF was listed on the Singapore Exchange last year.
ETFs are tracker funds that invest in the component stocks of an index. Investors need not pay a sales charge, unlike with a unit trust. They are, however, subject to a brokerage charge. Overhead costs are typically a fraction of those for unit trusts.
Unlike other ETFs that hold shares or bonds, StreetTRACKS holds gold bullion as its underlying asset. Its annual management fee is 0.4 per cent. A share in the ETF is based on roughly a tenth of an ounce of gold. Buy 10 shares and you own one ounce of gold.
Mining stocks
THIS means investing directly in the shares of mining firms. However, you could be exposed to more risks.
With most gold investments, you worry mainly about the price of gold. With these stocks, other factors, such as how well the firms are managed, come into play.
Citigroup analyst David Thurtell predicted yesterday (July 16th) interest in Buying Gold is likely to grow considerably in the coming months.
With central governments continuing to furiously print money in response to the global financial crisis, many market observers are forecasting an eventual spike in inflation.
The yellow metal has long been viewed as a valuable hedge against such a scenario and Mr. Thurtell explained in an interview with Reuters that investors may BuyGold in significant quantities.
He told the news provider: "Gold is basically dollar-driven, but there are expectations that all this monetary stimulus is going to spark inflation concerns and therefore interest in gold.
"There is a view that if world growth is in a gradual recovery trend, that will eventually help fabrication demand."
A similar view was expressed last week by Trevor Law, a director at Solihull-based independent financial advisory firm Montpelier Group.
According to the Birmingham Post, he noted that ongoing concerns over the future of the economy are emphasizing gold's appeal as a store of wealth in tough times.
"It seems that many investors are rushing to the perceived safe haven of gold during the current recession," he told the newspaper.
"Uncertainty over the state of the economy, plummeting share prices, pitiful interest rates and fears over the vulnerability of even the biggest banks have all led investors to return to the old ways of physically holding gold to protect themselves."
To Buy Gold today, avoiding wide spreads and storage costs – but still owning your physical Gold Bullion Investment outright with full legal title.
Gold has a long-running history as a safety net during times of financial difficulty, a method of preserving and actually growing wealth as other sectors in the economy go into decline. It's a see-saw battle that's been going on since antiquity. Unfortunately, the two sides of the see-saw remain in perpetual conflict as investors have to make either one choice or another.
Right now, that see-saw is clearly swinging in the direction against business and industry. While certain biased sources will tell you otherwise, the choice really is pretty simple. You can either fight the see-saw and lose what you've earned, or use the mechanism to your advantage and gain while most everyone else watches their savings decline in value.
I am satisfied to wish everyone else the best of luck in seeking a better store of value in fiat currencies. I, however, will be owning gold.
Gold for August delivery hit a five-week high in overnight trading, as a weaker US dollar and higher crude oil prices boosted the metal's appeal as an alternative investment and hedge against inflation.
Bullion for immediate delivery gained as much as 2% to $955.40 an ounce, the highest since June 12.
Crude oil also found strength in the London market, gaining as much as $1.53, or 2.7%, to $65.90 per barrel. This is the highest level for oil since July 6.
Meanwhile, the US dollar fell sharply against most major currencies on speculation that this week's European and US economic reports will show the global recession is easing, sapping demand for the greenback as a refuge. The US Dollar Index, a measure of value of the dollar against a basket of six major world currencies, dropped to a near seven-week low, down 0.7% to 78.925.
In other precious metals, silver climbed as much as 2.6% to $13.75 an ounce, while platinum put on 1.1% to $1189.90 an ounce, and palladium gained 1.4% to 254.50 an ounce.
Today, Gold Price has go higher again to USD 940/OZ. For those who bought Gold ( be it Physical Gold, Paper Gold or Gold Saving account ) last year or several years ago are making big profit for this year. This is much better than investing in Stock market. for my case , My stock value has decrease an amount of ~60%. Maybe will take few years to recover. But for Gold Downside Risk is Minimum, but upside again is Huge. I've read some of the reports online saying that Gold Price will go up to USD5000/OZ in 3 years time, Next target price is USD1500/oz. What do u think ? Possible ?
Historically, gold has been a proven method of preserving value when a national currency was losing value. If your investments are valued in a depreciating currency, allocating a portion to gold assets is similar to a financial insurance policy. In the past year, the climb in the price of gold above $800 per ounce is due to many factors, one being that the dollar is losing value.
Reasons to say YES to Gold
The dollar is weak and getting weaker due to national economic policies which don't appear to have an end.
Gold price appreciation makes up for lost interest, especially in a bull market.
The last four years are the beginning of a major bull move similar to the 70's when gold moved from $38 to over $800.
Central banks in several countries have stated their intent to increase their gold holdings instead of selling.
All gold funds are in a long term uptrend with bullion, most recently setting new all-time highs.
The trend of commodity prices to increase is relative to gold price increases.
Worldwide gold production is not matching consumption. The price will go up with demand.
Most gold consumption is done in India and China and their demand is increasing with their increase in national wealth.
Several gold funds reached all-time highs in 2007 and are still trending upward.
The short position held by hedged gold funds is being methodically reduced.
U.S. government economic policies over the past decade have systematically projected the U.S. economy down a road with uncontrollable federal spending and an uncontrollably increasing trade deficits. Both will cause the dollar to lose in international value and will increase the price of alternative investments, such as gold.
After having investing for many things like Stock , Forex and HYIP. Today i decided to buy some physical gold for investment. Thinking that Gold is the mose reliable and stable source of investment. Rush to the Bank today to purchase just tiny grams of it for initial investment. However, there are also other form of gold investment like Gold share, future, paper Gold and Gold account etc.. Let me know what u think is the best for you.
I'm a Self employed been investing for almost about 8 yrs. Here is the chance for me to post my Blog to share experience and investment information with everyone.
