Friday 18 June 2010

Following closely

Since we have started our venture into gold 3 days ago we have already made more than a bank would have given us in the same time. Now, I know the markets are very volatile right now so that could change in a heart beat.
Now, this is my thinking. All the problems with the Euro right now with Greece and potentially Spain introducing big government cuts is all having effects on people's savings. It is up in the air on whether the Euro Dollar will survive at all and other european countries complaining about bailing Greece out because they've over spent and struggling to keep the retirement age above 60. Reports of people selling gold coins on the steps of banks as customers have been selling their shares and buying gold coins outside.
All this is pretty bad for any economy but I think it all has a positive effect on gold prices. People are rushing to place their money in a safe haven and gold has always provided that. With all the new printed money out their being produced for quantitative easing has devalued paper money. Can anyone really not afford to invest in something else? Only time will tell.

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