Skip to comments.Gold extends gains to 5-1/2 month high on safe-haven demand
Posted on 03/12/2014 2:29:46 AM PDT by Red in Blue PA
SINGAPORE (Reuters) - Gold climbed for a second session on Wednesday to its highest in 5-1/2 months, as global uncertainty over economic growth and tensions in Ukraine burnished the metal's safe-haven appeal.
Weakness in equities and base metals, along with technical buying, propelled gold prices through resistance at $1,355 an ounce, traders said.
Other precious metals were higher too, with silver climbing nearly 2 percent.
"There is quite a lot of attention on moves in other metal markets, like base metals," said one Hong Kong-based precious metals.
(Excerpt) Read more at finance.yahoo.com ...
We should just buy, buy, buy stocks! They are just going to keep going up forever, right?
According to some yes....even some here.
Amazing that people just think they will grow year in and year out. Trees do not grow to the sky.....never did and never will.
That's been the trend for most of this past year:
“Weakness in equities and base metals, along with technical buying, propelled gold prices...”
More like “weakness in the dollar”; what isn’t going up in price? Basically, single-family homes; when nobody is starting families they don’t need the space, and as jobs follow the friendliest business environments workers prefer to keep their mobility with rentals (avoiding parasitic property tax increases at the same time).
” what isnt going up in price? Basically, single-family homes”
Correct. I’ve lived in my home since 1970, and for the 1st time my assessment value has dropped. By $14.000.
I bought mine before the bubble, watched the value go up, and have watched it steadily decline for years; here in NJ our sky-high property taxes ensure that prices will never go very high. Years ago all building stopped altogether due to the flight of companies and workers from the region; now construction is mostly apartments and condos (both to house Americans of all ages who have foregone children, and for the young foreigners being imported to take the jobs they hold). Rather than reducing costs as the population of American schoolchildren declines, the government seems bent on importing foreign schoolchildren as well; our government-worker class will continue to strangle taxpayers even if they have to import young terrorists to fill the classroom seats.