Gold Gains Dollar Drops Again as Investors Grow Skeptical of Peace in the Middle East
Now for the fifth straight week weakness in the dollar has equated to strength in gold. Gold again has climbed out of the $570 level up over $60 an ounce today in just a few short weeks.
Studio City, CA (PRWEB) August 21, 2006 -- Investors here in the United States, Canada, South Africa and Australia are buying gold coins denominated by their respective countries mint.
The American Eagle, Maple Leaf, Kruger rand and the Philharmonic right now are seeing more demand than supply and gold dealers according to the World Gold Council and the Industry Council for Tangible Assets are experiencing a tremendous “shortage of inventory” in last week’s official report.
“Gold dealers worldwide are beginning to see a shortage on the amount of gold coins and bars they have available in inventory,” says World Financial’s president, Marc Lubaszka. “Apparently, most Americans are beginning to look seriously at the importance of allocating a substantially larger percentage of their net worth for physical gold. The most common question on all of their minds is how much can I expect to make with buying gold coins.”
Again, many precious metal sector advisors warn against allocating capital for higher risk investments. In the precious metal sector, “gold stocks and futures contracts are only recommended by our advisors to clients that have money to ‘play with’ because those ways of participating in the gold market are susceptible to tremendous downside risk,” said Merrill Lynch vice president, Jeffery Rosenberg today.
Still the safest and most conservative way to take advantage and profit from precious metals is to buy gold itself. “You want to get the gold in your hands,” Lubaszka went on to say. “Owning gold outright is the only way we believe you should participate in a commodity related sector with the way the world’s economic environment is weakening.”
It appears as if owning gold today may be safer than leaving your money in a savings account where it is susceptible to a weak and continuously falling dollar.
###
Post Comment:
Trackback URL: http://www.prweb.com/pingpr.php/VGhpci1Db3VwLUVtcHQtVGhpci1JbnNlLVplcm8=
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|
