Gold News

Investors in gold 'ride the wave'

The continuing shakiness of the US economy could be good news for gold, as investors keep placing their assets into gold bullion.

According to Reuters, the main factors that are boosting gold prices are the weak dollar, high oil prices and a loss of confidence in the economy and these factors look set to continue.

One analyst, Kevin Grady, a gold trader with MF Global in New York, said he is confident about gold futures, explaining that inflation is a significant factor.

"Everything is predicated on the dollar right now. There's a tremendous amount of dollars on the market and that constant flood of money is going to keep gold prices high," he said, according to the Associated Press.
Other commodities are also doing well, with copper, silver and soybean futures all gaining in the past week.
Gold prices rose to a one-week high on Thursday (March 27th) as a softer dollar and rises in oil prices sparked new inflationary fears.

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