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Gold Investments Market Update
Fri, Sep 5 2008, 15:34 GMT
by Mark O'Byrne
Gold and Silver Investments Limited
Gold
Gold rose sharply soon after the poor unemployment report as the dollar fell and equities have again come under pressure with sharp falls in international markets.
The US economy appears to be slowing quite sharply as seen in the unemployment rate unexpectedly rising to 6.1 percent in August, its highest in more than 4 1/2 years. Employers cut payrolls for an eighth straight month and labor markets showed signs of accelerating decline.
A slowing US economy will likely lead to a lower dollar in the medium term which bodes well for gold. Foreign investors are less likely to buy US equities and bonds should the US fall into a recession, particularly if that recession is serious and accompanied by inflation and stagflation.
With gold demand internationally remaining extremely strong due to inflationary and macroeconomic concerns and uncertainty regarding the outlook for financial markets internationally, gold remains oversold and will likely resume its upward trend in the coming weeks.
Published on Fri, Sep 5 2008, 15:36 GMT
Archive
- Gold Investments Market Update - Citigroup Report: Gold Holders "Mellow" for Years; Holders of Other Asset Classes Increasingly "Yellow"
Published On Fri, Nov 28 2008, 15:49 GMT - Gold Investments Market Update - Citigroup Says Gold Above $2000/oz Next Year as World Unravels
Published On Thu, Nov 27 2008, 14:06 GMT - Gold Investments Market Update - Gold up 10% in Euro and 26% in Pounds in 2008
Published On Wed, Nov 26 2008, 13:56 GMT - Gold Investments Market Update - Gold and Stocks Rally for Different Reasons
Published On Tue, Nov 25 2008, 13:07 GMT - Gold Investments Market Update - Goldman Sachs Plummets - Bodes Ill for Wall Street and US Financial System
Published On Tue, Nov 11 2008, 15:10 GMT
Gold and Silver Investments Limited
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