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Gold Price Rises

Despite anticipated disruption in market trading due to the Chinese New year and Presidents Day in the U.S, which led to the markets closure on Monday, the price of gold still ended yesterday at a high of $1120.60.

One of the reasons that can be attributed to the recent rise in the price of gold is the present situation in Greece. The country finds itself in a state of financial crisis and with severe debt problems. However recent meetings in Europe among the nations have helped to renew the markets confidence that successful arrangement can be put in place to help resolve the current issues.

Once again it appears that investors are looking to buy gold as a safe haven option. It offers protection against the weakening dollar and with the unpredictability of paper money it makes an excellent hedge against inflation. In the present times of economic and political uncertainty it makes financial sense to buy gold as a wise and solid investment for the future.

Related posts:

  1. Investment Demand May Push Up Price of Gold
  2. Deutsche Bank – Gold Price Forecast

Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-rises-401/

Posted by on Feb 17 2010. 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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