Gold price may offer fresh investment opportunity
Now may be the time to consider investing in gold coins and other precious metals in light of a short-term rally in the dollar that has brought prices back to the point they were at two weeks ago.
A Wednesday report from Reuters said that gold stood at about $1,112 per ounce, falling 2 percent, in light of a strong rally by the dollar. The wire service noted that the Euro is showing weakness against the dollar due to concern about a potentially looming debt crisis in Greece.
However, Reuters also noted that the slowdown in gold’s price increases may be an opportunity for new buying to emerge, and that the latest development was likely a minor setback.
Looking ahead, gold has strong potential because a number of countries around the world, from Dubai to Mexico to the United States, are facing their own pending debt issues that could have serious repercussions on their respective economies in the longer term.
For example, the U.S. national debt now stands at more than $12 trillion, which fuels concern about the long-term stability of the dollar and the possibility that the staggering cost of interest payments on the debt could eventually raise the risk of a default.
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