SeekingAlpha.com commented this week on the price of gold and the anticipation of gold prices increasing.
It is expected that gold will see the $780-810 range. Gold investors are hoping to see gold stabilize at that rate for long-term growth.
On Friday, gold reached $800.
As the fiscal stimulus continues, inflation has little room to go lower. Quoting the research house GFMS Ltd, “Dollar demand for gold reached an all-time quarterly record of $32 billion US in the third quarter of 2008. Tonnage demand was also 18% higher than a year earlier.”
Investment demand contributed most greatly to overall demand for the quarter, including gold ETFS, bars and coins. Retail demand for gold rose 121% with bar and coin buying in Swiss, German and US markets. France became an investor in gold for the first time in almost thirty years.
Gold jewelry demand surged as the Indian wedding season approaches (India is the largest gold jewelry consumer in the world).
At Cash4Gold, we will be paying attention to the daily gold prices and to the gold market, in general. We want to offer our customers the best prices for your old or broken gold jewelry. Cut out the middleman and visit Cash4Gold to see the prices we pay for your old gold! Sell your gold for cash today!
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