By any means I do not believe this is permanent or a sign of things to come. Whenever their is reports of the dollar strengthening the first reaction is always a dip in the precious metals market. As much as I want a strong US dollar, unfortunately the signs do not point in that direction. Below is a article that was pulled from Market watch today. Keep stacking my friends.
By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- Gold futures eased Wednesday, tilting modestly lower as the latest a batch of quarterly corporate earnings results proved disappointing and as durable-goods data failed to fuel optimism about the U.S. economy, factors that combined to boost the dollar.
Full article
This is nice article... so, i will agree this words... Most of the people purchases were gold bracelets and jewelries that will be used for marriages in the coming months. Gold bullion sales are not that stellar, however, due to the high price of gold, but jewelry is not affected.
ReplyDeleteThanks for the great reading, we buy gold buy in a recession. I will pass this on to our Ira clients to read.