March 16 (Bloomberg) -- Gold prices may rebound on demand for an alternative to currencies.
Twenty of 30 traders, investors and analysts surveyed from Tokyo to Chicago on March 12 and March 13 advised buying gold, which fell 1.3 percent last week to $930.10 an ounce in New York. Four said to sell, and six were neutral.
Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, has risen 33 percent this year, reaching a record 1,042 metric tons last week. Gold is up 5.2 percent in 2009 after gaining for eight consecutive years.
The metal’s decline last week surprised most traders surveyed on March 5 and March 6. The survey has forecast prices accurately in 150 of 253 weeks, or 59 percent of the time.
*People will be looking for a safer alternative. Don't let geography fool you into thinking that this is far from the Philippines. Remember that ours is an economy that relies heavily on the US Dollar.
wohoooooo!!! those who have precious metals in their investment portfolios will really be positioned for the taking!!!
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Pinoy Money Talk
kuyks, ive seen your new blog already!!! amazing!!! great layout and of course, the content is greater... i will follow it na... i'll promote it din with my friends... ok ba? the only thing is may problema sa comment form. di sya gumagana.. you might wanna check it out...
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ReplyDeletePrecious metals are true hedge against inflation, i have precious metals too in my portfolio one thing i dont know is where can i sell or where can I convert that in cash? is there any outlet in the philippines besides pawnshops? Please advice. thanks.
ReplyDeleteHey Roj, thank you for your inquiry. Yes, there are outlets that will liquidate your metals. Please feel free to email me at this address pregusay@gmail.com for further information since the buyers want to be discreet.
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Paul
ice_hot, thanks for the comment. The template I am using sucks, that is why I have not promoted the blog yet. I need to find other templates that are functional and easy to use, if you can find me a 3 column template (hihihi) that would be better.=D
ReplyDelete