More and more investors are looking to purchase precious metals today as gold extends its gains for the third consecutive trading day based on higher United States jobless claims and a weaker Dollar Index. First-time claims for jobless benefits rose to 627,000 Americans last week, up an unexpected 15,000 after the Federal Reserve mentioned that the economy is showing signs of “stabilizing.” The Dollar Index on the other hand is receiving heavy speculation by both short-term and long-term market analysts saying that it could continue losing value if the Federal Reserve continues excessive overprinting and quantitative easing measures in order to prevent a short-term economic collapse. Several forecasts are saying that the dollar may continue teeter tottering between deflation and inflation until the government does something to restore stability with the fiat currency. Many wise investors are deciding to purchase precious metals like the modern-day bullion bars and coins, as well as the pre-1933 certified rare coins that have proven their resistance to several negative economic factors. If you think that you could benefit by owning gold during the worst financial crisis since the Great Depression, feel free to browse my website in order to learn more about this elaborate market.
By around 2:45 PM Eastern Standard Time, the gold spot price is climbing yet again as a direct result of more American investors deciding to purchase precious metals as a safe haven alternative to dollar-backed assets, thus the metal has climbed to $937.70 per ounce, increasing $5.60 or .60% for the trading day and also increasing $52.40 or 5.92% in the last 365 trading days.
John Halloran
Senior Gold Specialist - Buy-Gold.org
