| BID | ASK | CHG $ | CHG % | |
|---|---|---|---|---|
| GOLD | 1720.30 | 1721.00 | $5.50 | 0.32% |
| SILVER | 33.599 | 33.639 | $0.011 | 0.033% |
| PLATINUM | 1624.00 | 1629.00 | $6.50 | 0.40% |
| PALLADIUM | 702.00 | 706.00 | $1.50 | 0.21% |
| CHARTS | WEEK | 30 DAY | 1 YR | 5 YR | 10 YR |
Monday, Feb. 06, 2012
Would Eurozone Be Better Off Without Greece?
By James O'Dell February 6, 2012, Los Angeles – The price of Gold eased 1.82 percent or $32.00, to close at $1,726.00 an ounce on Friday, after better than expected payrolls data put investors hopes for more stimulus from the ...
LEARN MORE
Gold News from Morgan Gold
Double Dip Recession Still Possible
August 26, 2010
August 26, 2010, Los Angeles – Gold bullion prices rose to $1,241 an ounce on Wednesday as the U.S. dollar gained ground against the euro and yen in the wake of another round of disappointing economic data.
Weaker than expected economic reports have driven the rally in Gold prices with the two latest reports released Wednesday following the same trend.
The price of Gold has been rising steadily since it hit a low of $1,160 on July 18 after the Federal Reserve downgraded its outlook on the economy.
The July durable goods orders released Wednesday came in far lower than analysts had expected with a lackluster 0.3 percent rise when economists were expecting an increase of 3.0 percent.
New home sales fell to 276,000 on a seasonally adjusted annual basis, well below the 334,000 expected by economists and the lowest level recorded since 1963.
The continued weakness in the housing sector brings up the distinct possibility of a double dip recession, something that has happened only once since the Great Depression.
“The risks of a double-dip recession are steep enough to provide cause for worry,” said John Lonski, chief economist at Moody’s Capital Markets Group in New York.
Lonski puts the odds of another economic slump at about one in three. “It calls for more remedial action by the Federal Reserve.”
Adam Klopfenstein, senior market strategist at Lind-Waldock said, "Until we get some type of conclusion of where the economy is going, gold is going to be well supported."
The rising price of Gold continued to drive investment demand throughout the precious metals sector, as evidenced by the recent comeback in the Silver price.
The price of Silver surpassed $19.00 Wednesday on increased investment demand for the first time since June 25, then settled back to post a 3 percent increase at $18.89 an ounce.
Silver extended its gains from Tuesday after posting its biggest one day rise in more than three weeks. The price of Silver has followed the price of Gold with a 5.3 percent gain in August and a year to date gain of 12.3 percent.
Much of those gains were realized this week. Physical Gold demand is gaining momentum in India with the festival season having started on Tuesday and continuing into November.
When financial markets are in crises due to either inflation or deflation, smart investors purchase physical Gold. Invest in physical Gold and Silver and protect your wealth from erosion.
‹‹ news archives
Weaker than expected economic reports have driven the rally in Gold prices with the two latest reports released Wednesday following the same trend.
The price of Gold has been rising steadily since it hit a low of $1,160 on July 18 after the Federal Reserve downgraded its outlook on the economy.
The July durable goods orders released Wednesday came in far lower than analysts had expected with a lackluster 0.3 percent rise when economists were expecting an increase of 3.0 percent.
New home sales fell to 276,000 on a seasonally adjusted annual basis, well below the 334,000 expected by economists and the lowest level recorded since 1963.
The continued weakness in the housing sector brings up the distinct possibility of a double dip recession, something that has happened only once since the Great Depression.
“The risks of a double-dip recession are steep enough to provide cause for worry,” said John Lonski, chief economist at Moody’s Capital Markets Group in New York.
Lonski puts the odds of another economic slump at about one in three. “It calls for more remedial action by the Federal Reserve.”
Adam Klopfenstein, senior market strategist at Lind-Waldock said, "Until we get some type of conclusion of where the economy is going, gold is going to be well supported."
The rising price of Gold continued to drive investment demand throughout the precious metals sector, as evidenced by the recent comeback in the Silver price.
The price of Silver surpassed $19.00 Wednesday on increased investment demand for the first time since June 25, then settled back to post a 3 percent increase at $18.89 an ounce.
Silver extended its gains from Tuesday after posting its biggest one day rise in more than three weeks. The price of Silver has followed the price of Gold with a 5.3 percent gain in August and a year to date gain of 12.3 percent.
Much of those gains were realized this week. Physical Gold demand is gaining momentum in India with the festival season having started on Tuesday and continuing into November.
When financial markets are in crises due to either inflation or deflation, smart investors purchase physical Gold. Invest in physical Gold and Silver and protect your wealth from erosion.
‹‹ news archives
Copyright © 2010, Morgan Gold, 19900 MacArthur Blvd., Suite 150, Irvine, CA, 92612 |
Privacy Policy
