Tuesday, January 8, 2008

Gold hits a new high OF $876!

Wow the price of gold per hits $876 Tuesday Jan 8,2008 mourning. The price has happen in the wake of the weakening dollar. Could this be a sign of recession you may be wondering. I would say no at the moment because I think this a trend made for stock traders. Since about October different types of metals have been sky rocketing in price. I know you guys heard of the guys who stole man covers just to melt them down and sell the precious metals. This inflationary cost of gold came about from numerous amount of investors pouring in 100 Billion dollars in the commodity funds for protection against th weaker dollar.

Also their have been a large number of gold etfs acquired in the last couple of months, also plays a significant role in the inflation of gold. My investment strategy is to invest in gold but make sure you are diversified in other commodities too. Since gold isn't the only commodity with unprecedented growth. I think energy and timber are very good commodities to invest in and they both presented long term growth.


Trend Watch


Template Design | Elque 2007