Tuesday, December 16, 2008

South African Gold Looking for Cash for Gold...

Bloomberg reported last week that the South African rand has seen a deficit widen to 7.9%.

South Africa relies on foreign purchases of its stocks and bonds, and this year has been among the worst since the Great Depression. The rand has lost 33% against the dollar and 24% against the euro in the past year.

The currency, at this time, is quite volatile and could weaken to 10.75 per dollar by the early part of next year. The government is expecting increased inflation as the country spends additional funds on road and energy infrastructure initiatives.

South Africa has been affected by gold and platinum prices, the largest exports of the country. South Africa produces about 80% of gold in the world and 10% of the world’s gold.

While prices have dropped slightly, demand for gold, silver and platinum has stayed the course……Get the most cash for your old gold, silver and platinum! Visit Cash4Gold.com to see about the prices we pay for your old scrap gold and to learn about our process! Sell your gold today at Cash4Gold.com!

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