Friday, September 28, 2012

Price of Gold Soars as Investors Seek Safe Haven

Gold bullion.
People are investing more in gold because of the increased price.
AUSTRALIA (ABC NEWS) -   For most of this year, the price of gold has been around it's all time high of USD 1700 an ounce and is predicted to rise to USD 2000 in 2013.  Sources claim economic problems in the United States and Europe are causing the increase in the price of gold.  Gold is becoming a safe investment against market volatility due to the economic stimulus measures by the U.S. and Europe according to financial advisor Jordan Eliseo.  Analysts are predicting mergers and take-over bids to increase because gold miners are undervalued compared to the price of gold.  Countries are also starting to stockpile gold in order to build up their reserve currency during the tough economic times.  China in particular is a government that is known to stockpile bulk commodities and industrial related metals.  Analysts suggest this is the time to start investing in gold.       Source:  Price of Gold Soars as Investors Seek Safe Haven (Reliability: High)

Comments:  Before gold, iron ore was in the focus of Western Australia's mines.  Due to the economic times, more and more people are beginning to invest in gold instead. 

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