Silver Dollar Values Prices Will Be Skyrocketing As Gold Soars As Demand Swells For Safe Haven Asset

Aug. 16, 2011 - PRLog -- Gold hit an additional high on Friday as traders sought a safe haven following anemic US development information elevated the specter that a possible economic downturn could spur the Federal Reserve to loosen financial coverage. Spot gold reached an all-time peak of $1,795.40 an ounce on August 10.

Listed here are important dates in gold's investing background since the early 1970s: Go to http://www.silverdollar.cc for more profitable silver and gold tips.

* August 1971 - US President Richard Nixon requires the dollar off the gold regular, which had been in location with small modifications since the Bretton Woods Agreement of 1944 fixed the conversion charge for one troy ounce of gold at $35.

* August 1972 - The US devalues the dollar to $38/oz of gold.

* March 1973 - Most main nations adopt the floating exchange charge program.

* May 1973 - The US devalues dollar to $42.22/oz.

* January 1980 - Gold hits a record high at $850/oz. High inflation because of powerful oil prices, Soviet intervention in Afghanistan and also the influence of the Iranian revolution prompt traders to maneuver in to the metal.

* August 1999 - Gold falls to some reduced at $251.70 on concerns about central financial institutions decreasing reserves of gold bullion and mining businesses selling gold in ahead markets to safeguard in opposition to falling prices.

* October 1999 - Gold reaches a two-year high at $338 following arrangement to restrict gold product sales by fifteen European central financial institutions. Marketplace sentiment in the direction of gold starts to flip more constructive.

* February 2003 - Gold reaches a four-year high on safe haven purchasing in the operate up to the invasion of Iraq.

* December 2003-January 2004 - Gold breaks over $400, reaching ranges last traded in 1988. Traders more and more purchase gold as danger insurance coverage for portfolios.

* November 2005 - Spot gold breaches $500 for your first time since December 1987, when spot hit $502.97.

* April 11 2006 - Gold prices surpass $600, the best stage since December 1980, with money and traders pouring cash into commodities on the weak dollar, company oil prices and geopolitical concerns.

* May 12 2006 - Gold prices peak at $730/oz with money and traders pouring cash into commodities on the weak dollar, company oil prices and political tensions over Iran's nuclear ambitions.

* June 14 2006 - Gold falls 26% to $543 from its 26-year peak following traders and speculators market from commodity positions.

* November 7 2007 - Spot gold hits a 28-year high of $845.40/oz.

* January 2 2008 - Spot gold breaks over $850.

* March 13 2008 - Benchmark gold agreement trades over $1 000 for your first time in the US futures marketplace.

* March 17 2008 - Spot gold hits an all-time high of $1 030.80/oz. US gold futures touch a record peak of $1 033.ninety.

* September 17 2008 - Spot gold rises by almost $90/oz, a record one-day gain, as traders look for security amid turmoil around the equity markets.

* Jan-March 2009 - Gold-backed exchange-traded money report record inflows in the first quarter as monetary sector insecurity spurs safe haven purchasing. Holdings of the biggest, the SPDR Gold Believe in, rise 45% to 1 127.44 tonnes.

* February 20 2009 - Gold rises back again over $1 000/oz to some peak of $1 005.forty as traders purchase bullion as being a safe store of worth, as main economies encounter economic downturn and equity markets tumble. Go to http://silverdollar.cc for more profitable silver and gold tips.

* April 24 2009 - China announces it's elevated its gold reserves by three-quarters since 2003 and now retains 1 054 tonnes of the valuable metal, boosting expectations it might include further to its reserves.

* August 7 2009 - European central financial institutions choose to renew their previously arrangement to restrict gold product sales over a five-year time period, setting the product sales cap at 400 tonnes a year.

* September 8 2009 - Gold breaks back again via $1 000 an ounce for your first time since February 2009 on dollar weakness and issues over the sustainability of the financial recovery.

* December 1 2009 - Gold climbs over $1 200/oze for your first time because the dollar drops.

* December 3 2009 - Gold hits record high at $1 226.10/oz, with dollar weakness and expectations for central financial institutions to diversify reserves into gold driving prices greater.

* May 11 2010 - Gold reaches a record high over $1 230/oz as fears over the contagion of financial debt problems in the Eurozone fuel safe haven purchasing.

* June 21 2010 - Gold jumps to a brand new high at $1 264.90/oz as underlying fears over monetary marketplace balance and sovereign danger mix with dollar weakness to push the metal via resistance at its prior high.

* Sept 14 2010 - Gold climbs back again to record highs, this time at $1 274.seventy five, as international markets reflect renewed uncertainty around the financial outlook.

* Sept 16-22 2010 - Gold hits record highs for 5 successive periods, peaking at $1 296.ten, as traders flock to bullion following the Fed indicators it might think about further quantitative easing, weakening the dollar and elevating fears over long term inflation.

* Sept 27 2010 - Spot gold prices touch the $1 300/oz mark for your first time.

* Oct 7 2010 - Gold rallies to some record high over $1 360/oz because the dollar arrives below stress from creating expectations for your US Federal Reserve to consider additional actions to help maintain interest prices reduced and prop up the economic climate.

* Oct 13 2010 - Gold jumps to record highs close to $1 375/oz because the dollar continues to languish, using the US unit coming below stress following minutes in the Fed's September meeting signaled the US economic climate may need further stimulus.

* Nov 8 2010 - Gold prices break via the $1 400/oz mark for your first time as haven purchasing, prompted by renewed spending budget issues in Ireland, more than offset a sharp dollar bounce.

* Dec 7 2010 - Gold reaches a clean record high over $1 425/oz, pushed by fund purchasing forward of year-end, jitters over the Eurozone financial debt crisis and speculation for further US financial easing.

* January 2011 - Gold prices drop more than 6% in their worst month-to-month efficiency in over a year as being a revival in danger appetite diverts investment to higher-yielding property.

* March 1 - Gold recovers to hit a record high at $1 434.65/oz as unrest in Tunisia and Egypt spreads throughout the Middle East and North Africa, boosting oil prices.

* March 7 - Gold extends record highs to $1 444.40/oz as oil prices hit their greatest in two many years, following protests are quashed in Saudi Arabia and as violence rages in Libya.

* March 24 - The resignation of Portuguese Prime Minister Jose Socrates pushes the Eurozone financial debt crisis back again to middle stage, lifting gold prices to some record over $1 447/oz.

* April 7 - Gold prices prolonged their record highs in the direction of $1 465/oz following the European Central Financial institution forged doubts over expectations for interest charge rises, while unrest in the Middle East encourages safe haven purchasing.

* July 18 - Gold breaks over $1 600 for your first time ion its eleventh straight day of gains, on persistent concerns about a Eurozone financial debt crisis spreading and also the expanding risk of the US authorities default.

* July 27 - Gold sets an all-time high of $1 622.89/oz for your sixth time in two weeks, as concerns concerning the deadlock in US financial debt ceiling negotiations generate up safe haven purchasing in bullion. It hits a record $1 628/oz on Wednesday, prior to correcting sharply later on in the day.

* August 10, 2011 - Spot gold touched an all-time peak of $1,795.40 an ounce in New York. http://silver-dollar-values.net has all the details for a precious metals investing decision.

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