You Can Predict Gold To Push $1,500 & Silver $50 Incredibly Soon, Perhaps As Soon As Summertime!

April 1, 2011 - PRLog -- Gold prices dropped further within the bullion market due to sustained stockpiles offered for sale in the absence of local buying interest, amid a bearish worldwide marketplace. Silver also dropped as stockpiles being off loaded on the back of lower industrial purchasing.

In overseas trade, the precious metals dropped on strengthening dollar, although concerns over Libya and Middle East continue to provide the precious metals a safe haven tag. http://silver-dollar-values.com has all the details for a precious metals investing decision.

The Libyan crisis stays tense with NATO now in charge of enforcing the no-fly zone, while the planet continues to warily view the situation at Japan’s Fukushima nuclear plant. The European sovereign financial debt issue has risen once more with Portugal most likely needing aid; just how much and when are the only questions remaining. Whilst the intermediate and long-term view for gold is bullish all around that does not imply the metal can’t take a little step back.

Following hitting all-time heights, gold prices might backtrack a little next week, however the downside for the yellow metal will probably be limited because of global uncertainty and U.S. dollar weakness. Gold hit a record high on Thursday of $1,448.60 an ounce, while silver notched a 31-year high of $38.18 per ounce. Profit taking on Friday pulled prices off of those highs as traders sought to pocket some money ahead of the weekend. http://silver-dollar-values.com has all the details for a precious metals investing decision.

Bahrain's gold industry lost an estimated $1 million a day when stores had been forced to close as a result of the unrest. The sector, currently reeling because of to the uncertainty brought on by anti-government protests, came to a standstill between March 13 and 19 stated the Bahrain Chamber of Commerce and Industry.

Their primary retail market is within Bahrain but they depend a lot on customers from Saudi Arabia. The locals have not been generating purchases and the visitors are not coming. Unrest in other areas of the Middle East, including Syria, Lebanon, Egypt and Yemen, has also meant purchasers were not traveling. On average businesses were 80 per cent down since the unrest began and jobs might be lost if the scenario continued.

There isn't any stopping silver. Traders prefer the gray metal to gold as being a risk aversion play since it is seen as being a better and less expensive alternative. You only need to look at the record higher investment in the iShares Silver Trust, the world’s biggest silver-backed exchange-traded fund, and the drop within the gold-silver ratio, which fell to its lowest since October 1983, as examples. The ratio is currently around 38.3.

I think that you can expect gold to hit $1,500 and silver to hit $50 extremely soon, maybe as early as this summer time. Now could be an excellent time to invest in gold and silver. My recommendation is to buy gold and silver today! http://silver-dollar-values.com has all the details for a precious metals investing decision.

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