Sunday, March 30, 2008

Gold rises 1 percent on strong oil prices

Gold rose more than 1 percent on Monday as oil prices and positive market sentiment prompted investment in gold, a traditional hedge against inflation. Gold rose as high as $908.40/909.20 late in New York on Friday. But gold is still 10 percent below a record high of $1,030.80.

Gold is reacting to a rise in oil prices. The gold market has also witnessed buying from jewelers at gold price dips, helping gold rebound from a two month low of $872.90 an ounce touched last week. Gold prices remain reasonably stable due to jewelers spending. Longer term, investors remain positive about gold and further dollar weakness could quickly result in gold prices resuming their upward trend.

The rise in gold prices is an excellent opportunity for our customers to exchange their unwanted gold and gold jewelry for fast cash. Our gold and precious metal refiners are willing to pay 5% more than current market value for your unwanted gold and gold jewelry.

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