Value of Gold Investment Update

Below is a post by freethemarketman about the Gold Investments Market Update (posted on March 20, 2008):

Gold
Gold was down $59 to $942 per ounce in trading in New York yesterday while silver was down 1.50 cents to $18.49 per ounce. Gold has continued to sell off in Asian trading and again in trading in London this morning.

Gold also sold off in other currencies but not by as much as the dollar strengthened against most major currencies. The London AM Gold Fix at 1030 GMT this morning was at $913.50, £461.60 €591.15 (from $995.25, £497.376 and €632.146 yesterday).

It is difficult to know what precipitated the severity of the sell off as there is no change in the long term fundamentals driving the gold market. However, with the dollar strengthening and oil and other commodities declining sharply yesterday, gold was bound to come under pressure. Agricultural commodities fell by even more with some off more than 7% on fears of a global recession or depression and the more than likely demand destruction for soft commodities that would lead to.

Original post by freethemarketman: Gold Investments Market Update

The link below might be of interest to you:
Ways to Invest In Gold and the Risks Involved


March 22, 2008 | Filed Under Investment 

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