Friday, April 9, 2010

Gold Hits Four-month High

Gold surges to four-month high

Gold closed the week hitting a four-month high as deepening concerns about the Greece sovereign debt crisis refuses to go away, and investors flock to safety in concerns over all paper currencies, which less people are trusting daily and the Greece crisis has revealed, as the euro continues to take hits from its weakening position as a viable currency.

Gold futures for June delivery increased to $1,161.90, the strongest finish since December.

The concerns over Greece are that it will default on its debt, which a growing number of investors are believing is going to happen.

As there is no will or discipline among central banks or governments to quit printing their currencies in order to artificially and temporarily prop up their economies, investors are realizing we're reaching a point where the value of paper currencies will be under pressure for years, along with increasing inflation from the misguided policies.

That makes gold and other commodities highly desirable, and should outproduce other investments over the next decade.

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