Saturday, July 4, 2009

Whacky dollars upest Gold

Whacky dollar values have affected the price of Gold. Today it is trading at around $931 which is down from it's previous high of $990. Investors fled gold after news of the US non-farm payroll figures. Gold's profile has been lifted constantly by bad economic times and causes it to be more attractive then ever. Gold pretty much went sideways in Asia. At present time there seems to be more upside potential in the dollar right now and that's why there aren't a lot of investors buying gold. August gold futures for barely moved. The demand for physical bullion has decreased from last month not sure why that would be. Gold has great long term funadmentals and might get some more action once this dollar situation settles down then maybe we could see it move back to $930. It appears to be a good deal at $930 but there isn't much % when it moves to $990 compared to other investment vehicles right now like the dollar. We will have to see what happens with India and China in the coming months.