Gold Rushed» dollar http://www.goldrushed.com Investing in Gold, Buying Gold Mon, 21 Nov 2011 20:57:48 +0000 en hourly 1 http://wordpress.org/?v= Price of Gold May Signal a Golden Buy http://www.goldrushed.com/2008/06/01/price-of-gold-may-signal-a-golden-buy/ http://www.goldrushed.com/2008/06/01/price-of-gold-may-signal-a-golden-buy/#comments Sun, 01 Jun 2008 20:41:39 +0000 admin http://goldrushed.com/?p=16 Buying gold has been good choice for the past year. Huge gains have made a lot of investors who dumped the dollar, dumped stocks, a lot of money. The price of gold reached $1000 per ounce not too long ago and looked like it wasn’t going to stop any time soon.

Then the stock market came around, the housing bust didn’t seem like such a bust anymore and the world wasn’t so sour on the dollar. The price of gold quickly dropped below $900 per ounce. And it has stayed there ever since, bouncing every once in a while but then profit taking takes over to bring it back down.

Is the reason for the drop a good reason? Not sure, but the dollar is still down, the market isn’t turned around that much, and oil is still rising rising rising. If oil is on it’s way up and inflation seems like its going to be the tale of the summer, why the pull back in gold?

If anything, I would think the price of gold would continue to rise, but we shall see.

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