Friday, December 26, 2008

Gold Topped Currencies in 2008

It was reported last week that “Gold Topped All Currencies in 2008”.

The Federal Reserve has made inflation on the rise with the lowest Fed funds rate ever in the US. Fears of hyperinflation are rampant.

This instability is indicative of higher gold prices in the long term as investors seek gold as a safe haven. Gold is 15% lower than the March 2008 high, but has surged 60% in the past 7 months. Gold remains higher than all major currencies, including the US dollar and is one of few asset classes to have increased in 2008…..

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