Gold Sales to Increase Worth of Metal?

This week’s update on gold pricing may predict rising futures for the metal.

Reuters UK reported that due to hardships being experienced by the U.S. banking industry, gold might be headed for a run.

This week, oil fell below $10 a barrel for 7 month lows, Lehman Bros filed for bankruptcy protection, and Merrill Lynch was acquired by Bank of America.   The weaker dollar could trigger a rise in demand for commodities, like gold.

Gold jumped 2.5% to over $784 an ounce following last Thursday’s 11-month low of $736.  Bullion, on the other hand, was trading at $775.60 an ounce.

Gold is often considered a safe haven during financial crises, and many economists are predicting that it is not performing at its peak ability yet.  Gold’s futures will also be determined by watching if the euro reacts strongly or weakly to the dollar.

Many economists are also questioning what will happen when much of the supply of gold is purchased...

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