Gold Price Sees Gains For Third Week In A Row, Reports Gold Price

Share Article

The gold price has seen three straight weeks of gains as Cyprus’ debt debacle boosts save-haven buying, reports American gold dealer, Gold Price.

Gold Price - GoldPrice.net

Gold Price - GoldPrice.net

Buy gold now to protect wealth and profit in the future. Gold gains value in times of economic uncertainty.

Although the gold price fell slightly on Friday, it closed the week up .09% due to safe-haven buying earlier in the week. This marked the yellow metal’s third week in a row in which it closed showing gains. Safe-haven buying was the main factor in its rise as investors kept their eyes on the situation in Cyprus. The country is in negotiations with the European Union to resolve its debt crisis. Analysts expect Cyprus to continue to play a bullish role in gold pricing throughout the coming week. From Kitco News on Friday:

“In the Kitco News Gold Survey, out of 33 participants, 28 responded this week. Of those 28 participants, 22 see prices up, while four see prices down, and two are neutral. For those participants who see higher prices next week, nearly all of them cited the situation in Cyprus … as the reason for their higher calls.”

Arthur McGuire, vice president of Gold Price, says, “Here at Gold Price, we expect to see more weeks like the last three. Although Cyprus was able to secure a deal with the EU yesterday, it was reportedly a ‘painful one’. They had to close the country’s second biggest bank and are going to appropriate funds from bank deposits of more than 100,000 euros. This should serve as a warning to those who do not own gold: now is the time to buy precious metals. If governments can let banks run amok and then steal money from citizens to bail them out, then banks are obviously not safe places to store wealth. Buy gold now to protect wealth and profit in the future. Gold gains value in times of economic uncertainty.”

Gold Price (GoldPrice.net) is a leading precious metals dealer since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver as modern bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.goldprice.net or calling 1-800-767-1423.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Arthur McGuire
Gold Price
1-800-767-1423
Email >
Visit website