Will bullion prices rise as investors diversify from the stock market?
*Bloomberg, by Nicholas Larkin, September 4, 2009:
"Gold Nears $1,000 on Stronger Demand From Investors for a Haven
Gold neared $1,000 an ounce in New York and London, missing the level
by about 1 percent, as investors sought a haven on concern that a
global recovery may be slower than expected. Silver fell from a
13-month high.
Gold futures reached $999.50 yesterday, the highest price since Feb.
23, and are heading for the biggest weekly gain since April, helped by
lower equities. The MSCI World Index of shares is down 2.4 percent this
week, heading for its first decline in eight weeks, on concern that a
six-month rally has outpaced the prospects for earnings and economic
growth.
'It is likely that $1,000 will be tested again during the course of
this month, and even today,' Peter Fertig, the owner of Quantitative
Commodity Research Ltd. in Hainburg, Germany, said by phone. 'There has
been a flight out of risky assets into gold as a safe haven. It’s been
out of stocks.' "
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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