Gold Climbs Higher on the Back of the Weakening Dollar
A quick look back over our Friday Fix postings indicates that gold has been rising steadily for the last seven weeks. The other metals we post, silver, platinum and palladium have been following suite over the same time period.
The struggles of the U.S. dollar and it's continuing decline against a very vibrant Euro provide a genesis for the movement of investment money into metals portfolios and futures. I would guess that this trend might continue through the fall months, as employers continue to use attrition to control costs, evaporating jobs and weakening the economy, while credit problems put banks and mortgage companies in possesion of more houses.
Sounds like recession, feels like recession, metals responding as if in recession. My two-cent advice? Proceed with caution on any financial decisions, spread your investments with a mind to increasing stability and make yourself essential to the economy lest you fall between the cracks.