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Thursday, March 18, 2010

Gold Futures Up Fourth Straight Day

Gold prices going up!

For the fourth day in a row gold rose as continuing concerns over the fate of Greece with its sovereign debt crisis pushed prices upward.

Even the stronger U.S. dollar couldn't keep investors from going to gold as their preference for a safe haven against the growing uncertainty on the depth of the crisis Europe and the euro face.

Comments by Greece authorities that they may have to go to the IMF to access funds speaks to Europe not backing them like they've publicly stated they are willing to.

Taking everything into account, it won't be the inverse relationship between gold and the U.S. dollar which determines where gold prices will head, but the condition of the global economy which seems far worse than is being revealed by many countries.

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