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Buy Gold While Supplies Last, By Swiftsure Securities Research Group (ssrg)

Buy gold now while supplies last! Gold is one of the coinage metals and has served as a symbol of wealth and a store of value throughout history.

 
PRLog - Aug. 8, 2010 - WEST VANCOUVER, Canada -- Lost in the headlines over the dollar's resurgence in 2010 is the fact gold is still rising in most worldwide currencies. It is also still faring well in dollar terms. Gold futures for December delivery rose 0.7 percent to $1,207.50 an ounce, an eighth straight gain, on the COMEX in New York. Earlier, gold reached $1,213.30, the highest level for a most-active contract since July 16.

Rico Mendez, Senior Trading Adviser for Swiftsure Securities Ltd. Canada says “a long time gold bull sees no reason for this trend to end.” Further, “there are many compelling factors both from a supply side and then from the demand side that looks like gold will trade higher."

Mendez' reasons to bullish on gold:

-- Massive federal deficits and low interest rates in the United States and elsewhere will raise inflation risks and keep downward pressure on currencies.

-- Rising incomes in Asia, where affinity for gold runs deep, will have a sizable positive impact on demand; China is now the largest producer of gold in the world but that won't drive down prices because the government is "using it as a reserve currency for themselves." However, bulls should note China's chief for exchange official said this morning they would limit their purchases.

-- Peak Gold? Gold production from mines is not adequate to meet demand. Production is dropping around the world. Holmes notes worldwide production ell 10% in 2008 and is especially dramatic in South Africa - the world's largest producer.

Mendez, however, does have a few words of caution for those looking to get rich on gold. He only recommends a 10% allocation in gold that would be divided evenly between bullion and stocks.

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Swiftsure Securities is a specialized futures broker that provides services, products and clearing partners that enable a fast and reliable way to execute and clear global futures, options and forex markets.

Swiftsure Securities is an agile, global firm that specializes in being a customer advocate providing personalized service along with customized trade execution and clearing solutions. The firm serves institutions, brokerage firms and individual professional traders who expect superior service throughout the world.

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Contact Email:
***@swiftsuresecuritiesltd.com
Source:Swiftsure Securities Ltd
Phone:0016046373155
Zip:V7P 1B8
Location:West Vancouver - British Columbia - Canada
Industry:Finance, Gold
Tags:swiftsure securities ltd., gold, swiftsure, rico mendez, buy gold, swift sure, swiftsure securities
Shortcut:prlog.org/10845017
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