Gold Holds Above $1,000

Today gold bullion prices remained about $1,000 per ounce as a pressurised dollar continued to weaken. The US dollar is under pressure because of last week’s employment data which indicated that future recovery may not be as robust as previously predicted.

There had been a wobble in the price of gold on Friday after figures announced showed that US employers had cut more jobs than expected in September sending unemployment soaring to a 26 year high of 9.8%. However, as investors buy gold the price has regained its position at over $1,000 per ounce today.

Currency prices did not fair as well and remained under pressure this morning and falling again showing that in uncertain economic times gold is a more reliable investment than currency.

Link to this article: : http://www.goldmadesimplenews.com/gold/gold-holds-above-1000-437/

Posted by on Oct 5 2009. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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