Those doubting the security of owning gold and selling gold for profit should take a few factors into consideration this week. Fannie Mae and Freddie Mac were taken over by the government this week, after a stunning financial collapse of the housing entities.
However, on Tuesday, gold fell below $800 an ounce for the first time, reaching ultimate lows of $795.00. The last decline of this magnitude was in mid-August at $773.90/oz. The last high for gold was on March 17th at $1,030.80 an ounce.
Many are expecting gold at $1,225 an ounce, but yesterday’s rise - where the dollar hit a one-year high - did not increase the precious metal’s pricing.
Physical buying of gold is anticipated to increase in coming months. The festive seasons in India, requiring gold bullion. Bullion was priced at $987.75 an ounce in mid-July and has since fallen to $800 an ounce, but can be expected to rise due to the shortage.
Check back with us for additional information about buying and selling gold.
It’s always a good time to sell your gold at Cash4Gold.com. Because we are the refinery, we are able to offer better returns than other gold buyers! Visit our website at www.cash4gold.com for more information.
Posts
No comments:
Post a Comment