Gold Breaks $900 an Ounce!
January 14, 2008
Gold in Uncharted Territory Above $900
The bull market for gold kicked off this morning by running up to a new all time record high of just above $914 before settling in to $910 as I write this posting. Keep an eye on The Bullion Desk for changes to gold and other precious metals, or stop back here for updates.
Expectations of a further reduction in prime interest rates in futile Fed attempts to stem off a recession which has already begun are at the heart of investors buying. The free falling dollar is both a result of Fed announcements and another reason for investors to secure the stabilizing effect of gold on any mixed portfolio.
Something to add? Notice an error? Comment on this blog.
About the Author