Gold prices are rising because of the weak dollar
Santa Monica, CA (PRWEB) January 4, 2007
Top gold investment advisor Kevin DeMeritt of Lear Financial, the parent company of Gold Central, one of the top gold coin companies in the U.S., announces major factors fueling the latest rise in gold prices, equating violence in Iraq and potential problems with Iran as urgent reasons to invest in gold now.
"The strongest reason to own gold coins now is the fact that the United States has three aircraft carriers with task forces parked opposite Iranian shores," said DeMeritt.
"This unusually high concentration of United States warships in the Persian Gulf is viewed as a warning to Iran's growing nuclear threat to the stability in the Middle East," continued DeMeritt. "Given Iranian President, Mahmoud Ahmadinejad's recent declaration of now being a nuclear power, and with China and Russia both staunchly opposed to any type of punitive action to be taken against Iran, it appears current gold prices will continue to rise."
In addition to this escalation of tensions in the Middle East, the dollar is weak and getting weaker due to national economic policies and the over one trillion dollars of U.S. debt owned by foreigners which could be repatriated under certain conditions, which could cause a major decline in the value of the dollar and a soaring demand for American gold coins.
"Gold prices are rising because of the weak dollar," said DeMeritt. "It seems difficult for the Fed to raise interest rates as most of the economic indexes released in the U.S. have been negative."
With the recent devaluation of many international currencies, the U.S. dollar was the international safe haven of last resort. There are signs of this ending due to many financial factors, the most important one being a falling dollar and the demand for American gold coins.
As for prices, they could be anywhere between $800 and $900 at the end of 2007, and could even reach $1,400 an ounce by the end of 2010.
To learn more about investing in gold coins, and gold bullion through Gold Central, call 310-656-3272 or visit http://www.goldcentral.com.
About Gold Central
Gold Central, a division of the internationally renowned precious metals asset firm Lear Financial, Inc., is dedicated to providing Web investors with all the pertinent information and tools needed to securely purchase, sell and trade gold online. GoldCentral.com offers a diverse suite of intelligent investment resources including real-time pricing, regular e-mail alerts, newsletters, and a live staff available to answer real-world questions. Gold Central not only enables investors to stay current on the latest developments in the gold market, but also gives investors the flexibility to move gold as expeditiously as conventional paper investments.