Any scenario in which Italy ends up requesting financial aid help gold price up

The gold price rebounded on Friday closing, climbing $19.70 to $1,788 per ounce. The price of gold rose alongside oil, copper, and the bulk of the commodities complex. Risk appetites, which have fluctuated wildly over the course of the week, expanded heading into the weekend. S&P 500 stock futures rose 11.80 to 1249.20. University of Michigan consumer confidence survey will be released at 9:55am eastern time. The U.S. Treasury market is closed in observance of Veteran’s Day.

Any scenario in which Italy ends up requesting financial aid is likely to put further pressure on the euro currency and strengthen the case for additional money printing in Europe. This concept is not lost on the gold price, which despite Thursday’s decline remains higher by 23.7% on a year-to-date basis.

Commenting on the longer-term outlook for the gold price, legendary investor Jim Rogers stated in a CNBC interview that the yellow metal’s bull market is far from over. The price of gold “will easily go to $2,000 but it will reach $2,400 over the course of the bull run, which has years to run.”

As for when the gold price bull market will eventually end, Rogers – famous for managing the Quantum Fund with George Soros and for his bullish stance on commodities over the past decade – admitted that he has little to no idea. “It will end in a bubble when this is over. The way bull markets work is they go up and up and then by the end they turn into a bubble and that will happen to gold… That could be five years, 18 years or six years.”

Rogers went on to disclose that he continues to hold positions in both gold and silver, although he presently prefers the white metal because it is cheaper on a historical basis. In contrast to the gold price, however, Rogers did not provide a specific silver price target.


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Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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