Gold investors favor bars and coins (Euronews)
If one wants profit, silver is a better bet. It's much more volatile. If one wants stability -- preventing erosion of purchasing power in the face of inflation -- gold is safest. But what gold? Coins, paper notes backed by gold, bullion, jewelry, Krugerrand... there is no standard. The scam behind gold is how it's sold. Not all forms are equally valuable. Levels of purity vary; reputations of minted coins by country vary; broker's fees eat into profit; the US government does not want citizens holding actual precious metals. Research before investing. The worst time to go into any investment is at its high. Buy low, sell high. Will gold go much higher before it crashes?
"Where do you think you're going, punk?" "Mmm, I'm trying to get to the bank, sir."
Issac John (KhaleejTimes.com, July 18, 2011)
DUBAI — Gold prices rallied to a new all-time high above $1,600 per ounce on Monday morning, rising for the 11th consecutive trading session, the longest winning streak for the yellow metal since January of 1980.
Prices soared as high as $1,603.40 per ounce on Monday morning, driven by jitters over the eurozone debt crisis and the US debt ceiling, before backing off to trade just the $1,600 level.
A stalemate in the US debt ceiling talks and concerns of Eurozone debt contagion continued to underpin the metal’s investor appeal across the globe, precious metal analysts said in Dubai. With Monday’s advance, the gold price extended its monthly and year-to-date gains to 6.6 per cent and 12.5 per cent, respectively.
Yan Chen, head of metals and mining at Standard Chartered Equity Research, predicts that gold may rally to $5,000 by 2020 as incomes rise in China and India, the two biggest users.
Analysts said gold gained on the back of a surge in borrowing costs for Italy. The lack of a deal to raise the $14.3 trillion US debt ceiling also helped boost prices. “The long-term trend is certainly bullish and there isn’t anything in the horizon to suggest why $1,650 or $1,700 shouldn’t be reached earlier than expected. More
Prices soared as high as $1,603.40 per ounce on Monday morning, driven by jitters over the eurozone debt crisis and the US debt ceiling, before backing off to trade just the $1,600 level.
A stalemate in the US debt ceiling talks and concerns of Eurozone debt contagion continued to underpin the metal’s investor appeal across the globe, precious metal analysts said in Dubai. With Monday’s advance, the gold price extended its monthly and year-to-date gains to 6.6 per cent and 12.5 per cent, respectively.
Yan Chen, head of metals and mining at Standard Chartered Equity Research, predicts that gold may rally to $5,000 by 2020 as incomes rise in China and India, the two biggest users.
Analysts said gold gained on the back of a surge in borrowing costs for Italy. The lack of a deal to raise the $14.3 trillion US debt ceiling also helped boost prices. “The long-term trend is certainly bullish and there isn’t anything in the horizon to suggest why $1,650 or $1,700 shouldn’t be reached earlier than expected. More
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