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Spot Gold Prices 2010

Douglas — Tue, 12 Jan 2010 11:11:38 +0000

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.

Spot Gold Price 2010

Douglas — Wed, 30 Dec 2009 09:44:08 +0000

The Spot Gold Price 2010 will start above $1000 an ounce for the new year. The beginning of the month of December say the spot price of gold was near $1225 an ounce. But by the end of the month, it went down to $1091 on December 29 and was still falling.

Since 1971, the price of gold has risen and fallen but since breaking the $200 mark around 1979, it has stayed above it. Since 2001, gold has been on a steady increase with just a few small bumps along the way.

The end of December is seeing gold futures edging lower but a weak dollar has helped keep prices up. Uncertainty still remains in the minds of most investors. The recent financial fiasco from Abu Dhabi is just another reason for worry. With no true measure to track the direction of the world’s economies, uneasy investors are still relying heavily on gold for a solid investment. This has been shown with a rise in the value of gold by 24% in the year 2009 alone.

This has been the trend for the past decade. Since December 30, 1999 with the price of gold at $289, investors have seen solid gains. At the end of December the chairman of GFMS Ltd in London, Philip Klapwijk, has predicted that gold prices will drop to about $970 an ounce in the new year due to a strengthening dollar.

The American dollar is the key to which way the gold market will go. The Spot Gold Price 2010 will follow it closely. The stronger the dollar, the lower the price of gold will be.