November 8, 2009

Gold Prices: $1,100

Gold prices, which have bucked other trends and remained on an uptick as the economy waned in many other ways, hit a new high of $1,000 this week, spurring hopes that it would be a bellwether for better economic times to come.

As the global recession continues to have long lasting impact, many have looked to gold prices as a measure of whether recovery is approaching, so this rising price is interpreted by some financial experts as a positive sign. But many other indicators continue to be stagnant, at best, so the economic prognosis continues to be unclear.

Gold Prices: $1,100

Gold hit a fresh peak above $1,100 an ounce yesterday but crude oil prices fell as a disappointing rise in US unemployment fueled concerns about prospects for a recovery in the world's largest energy consumer. Gold hit $1,100.90 a troy ounce before easing back to $1,095, up 4.8 per cent this week and gaining 24.7 per cent this year amid hopes for a new round of buying by central banks in emerging economies...

Gold Prices: $1,100

Posted at November 8, 2009 6:37 AM

When China says jump the world had better listen
Ernie D

Posted by: Ernie Dibb at November 10, 2009 3:05 AM

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