Gold gets another lift on global economic worries | Money & Company

Los Angeles Times by Times Staff | Nov. 21, 2008 (News Report)

For months, the gold market has been in a tug of war between two camps: Hedge funds and other institutional investors and speculators have been bailing out of gold futures contracts to raise cash, while individual investors have been hungry buyers of gold coins and bars. The sellers had prevailed for most of the last six weeks, driving the metal down to near $700 an ounce by Nov. 13, from $900 in late September. Now it looks like the buyers finally are ... Full Story »

Posted by Marc Larocque

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Marc Larocque
2.4
 by Marc Larocque - Nov. 24, 2008

Although this article informs the audience with important information on the gold business during a global financial crisis. But it should tell us what the price was on Oct. 16, which was the day when gold was at its last highest point since this report. Gold is once more on the rise. But I wish I knew the deeper trend, other than just within the last financial cycle. I like that it attempts to briefly outline buyer concerns that the $700 billion financial bailout will cause more inflation of the dollar, sending more buyers to gold because of the "flight to quality" factor. Just a bit glib.

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Marc's Rating

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from 11 answers
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