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Significant drop in price of gold?
A significant drop from yesterday. What's going on?
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03-06-2015, 05:57 AM
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Friend of Warren
Join Date: Oct 2000
Location: Lincoln, NE
Posts: 16,484
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It's been in the $1200-$1270 range for years now. I just don't see gold as much of an investment right now, or for the immediate future. Here is one explanation for the drop:
Gold Futures Fall as U.S. Adds More Jobs Than Forecast Posted on March 6, 2015 by News 06-Mar (Bloomberg) — Gold futures fell as the U.S. economy added more jobs in February than forecast, cutting demand for the metal as a store of value. U.S. payrolls increased by 295,000 last month, government data showed Friday. Economists surveyed by Bloomberg expected 235,000. Faster economic growth has boosted concern that the Federal Reserve is getting closer to raising interest rates, damping gold’s allure because the metal generally offers returns only through price gains. Bullion fell 5.2 percent last month, giving up most of its rally in January, as gains in U.S. equities and easing concern over Greece’s debt reduced buying of haven assets. Gold Futures Fall as U.S. Adds More Jobs Than Forecast | USAGOLD Blog I think if you want to buy and hold, this is probably not a bad time to buy. But you would have to buy a lot of gold to really see much of a return on your investment if it only wanders back up into the mid $1200 range.
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Kurt V No more Porsches, but a revolving number of motorcycles. |
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03-06-2015, 07:07 AM
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Join Date: Apr 2007
Location: I live on the road, I just stay here sometimes...
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Gold is a place to hide from the world when the currency economies are bad. People are coming out of hiding
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03-06-2015, 07:44 AM
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