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The March of the Yellow MetalPosted on: 23rd February 2011 By Anita
Overnight gold prices broke through US$1,415 per ounce and the New Zealand dollar continued it’s decline against the U.S. dollar to $0.744 – this is great news for people with gold to sell because we’ve not had both factors move in our favour for some time now. The uncertainty around the turmoil in Libya (and perhaps the Middle East in general) has sent Crude Oil to $100 USD/barrel – the first time in more than two years!
The latest gold price move has been the longest rally for six months and as everyone knows, markets move up and down. When prices move upwards they “walk up the stairs” and when they move downwards, they “fall out the window”. It’s very hard to pick the best time to sell – so when prices are strong you get assured returns.
The current conditions in New Zealand with unemployment remaining high, housing looking shaky, business confidence low, food prices rising, it’s a good time to be debt-free and doing all you can to keep your expenses low. Gold prices are unlikely to rise faster than the outrageous credit card interest rates!
If you simply want to change the style of your old jewellery – there’s some beautiful new designs coming out in Silver and White Gold…