Spot Gold Prices 2010
The Spot Gold Prices 2010 are a carryover from the previous record year. With the latest report of a weakening dollar, the price of gold rose to over $1,160 an ounce. The changes of the dollar against other major currencies for the period of January 8, 2010 and January 11, 2010 are a -1.755% against the Euro, -.0778% against the Canadian dollar, -1.114% against the Japanese Yen, and -1.150% against the British Pound.
Another factor that has influenced gold is the exporting power of China. This week they have become the world’s largest exporter. They took this position from Germany. The amount of increase by China in their exports was 18% over the previous year.
Since gold is sold in US dollars, a weaker dollar makes it more affordable for those with a stronger currency to purchase more gold. This is evident with the price still going up on the gold market.
Gold prices are not the only precious metal that saw an increase in value and since the close of the NY exchange on January 11, 2010, the spot price of platinum has risen 29% to $1,626.00 and palladium is up 7.0% to $443.00. Most analysts are still looking for gold to maintain a high level of return until investors gain more confidence in the economies of different countries around the world.
With the Spot Gold Prices 2010 continuing to rise, this is still a solid investment. Some are predicting a sharp fall this year while others are expecting the price to continue with an upward swing.
Tags: 2010, gold, gold prices, investing, money, spot gold
eShop: 2010 gold gold prices investing money spot gold
Leave a Reply
You must be logged in to post a comment.
