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Sunday, November 18th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

COMEX Gold Inches Up Higher on Concerns for Weak US Dollar

 

Market concerns over the perceived weakness in the value of the US dollar were reported to be responsible for a moderate gain in the prices of gold futures on the COMEX division of the New York Mercantile Exchange as the price of gold ended slightly higher on September 13 as investors considered investment in gold as a safe haven and a better alternative.  Gold for December delivery gained $16.8 to reach $1,830.1 on the exchange which is about 0.9 per cent price appreciation.

Unconfirmed reports states that German and French authorities are working to ease the tension generated by the national debt incurred by Greece while China is looking to buy Italian bonds and ease the debt overload Italy is presently carrying. Analysts observed that some investors used the sell-off opportunities of the previous day to buy more of gold with a consideration that gold will surely preserve its value during economic downturn.

Many market experts are of the views that confidence in the financial stability of Europe will take some time to build up as the debt burden of the European region cannot be solved in a hurry. Analysts therefore concluded that demand for gold will remain as a means of preserving wealth and financial assets.


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