The coveted precious metal plunged in New York on Aug. 24 to around $1,700 an ounce, heading for its biggest drop in 18 months on speculation that worldwide financial markets could be stabilizing.
This news has surprised investors, since gold sailed to a record $1,917.90 an ounce just a day earlier on Aug. 23.
“The dollar has risen against six major currencies,”
Bloomberg News reports that central bankers will meet this week in Jackson Hole, Wyo., to address the U.S. recovery plan.
Though the economy shows slight signs of optimism, Gaudino said the precious metal specialists at Lloyds Commodities believe it is generally too unstable to ignore the precious metals as safe-haven investments.
“Looking at trends, gold has gained 31 percent this year because of global debt crisis and turmoil in equity markets,” said Gaudino. “That’s why Lloyds continually recommends investing in gold as an alternative and traditionally safe asset.”
As a precious metal wholesale dealer, Lloyds helps both existing industry dealers and those who are new to precious metals investing enhance their assets by becoming retailers.
Lloyds’ partners may specialize in the purchase and sale of gold, silver, platinum, palladium and copper – all metals which are recommended to diversify financial portfolios in volatile economic times.
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About Lloyds Commodities
Lloyds Commodities is a wholesale dealer specializing in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. Lloyds maintains relationships with worldwide suppliers, financing institutions, and investment bankers to maintain client equity. Lloyds has extensive back-office support for day-to-day operations -- including trade confirmations and statements -- allowing its retail clients to focus on expanding and marketing their businesses. For more information about Lloyds Commodities, visit http://www.lloydscommodities.com/