Gold Prices Surge as Obama is Elected


The price of gold has seen an instant boost following the reelection of President Barack Obama. Comex gold slumped last Friday to $1,675 but rose on Tuesday of this week to $1,724.30.

The reason for last week’s price drop was linked to speculation that the labor market could improve in the coming weeks and months, thereby causing the current quantitative easing effort by the Fed to commence earlier than expected.

obama elected gold prices rise

According to Sharps Pixley, if Romney would have captured the election, the dollar would have seen a boost in the value and the price of gold fall. However, experts predict the price of gold to continue to rise if Obama and the Fed continue similar policymaking efforts.

Another factor that is sure to affect the price of gold is the pending “fiscal cliff” and what is to happen in Greece and greater Europe. If for any reason the fiscal cliff is a major blow to the economy or Europe sees economic peril, it is expected that gold will be a safe haven for investors around the world.

Per the sentiments of leading efforts, if the US Congress fails to address the fiscal cliff this year, the economy will most likely enter into a recession and a credit rating downgrade is possible. ETF Securities has suggested that gold is undoubtedly one of the best hedges against a poor US economy. The firm also cites the fact that in 2011, as result of the US sovereign downgrade, gold prices rallied by almost 30 percent. If this is true, it may be a good idea to buy gold and hold onto it for quite awhile.

Latest Cash For Gold News

obama elected gold prices rise

Gold Prices Surge as Obama is Elected


The price of gold has seen an instant boost following the reelection of President Barack Obama. Comex gold slumped last Friday to $1,675 but rose on Tuesday of this week to $1,724.30. The reason for last week’s price drop was linked to speculation that the labor market could improve in the coming weeks and months, […]

good time to buy gold now

Forbes Report Suggests Now Is A Good Time To Buy Gold


According to Forbes contributor Tom Aspray, there is definitely a bearish sentiment in the gold market this week. He also doesn’t feel that gold has completely corrected, yet he acknowledges that August, September, and October usually see gold at its highest demand. Aspray also indicates that over the long-term gold will probably gain in value. What he […]

Italy Cash For Gold Shop- Compro Oro

Italians Cashing In Gold At Alarming Rates


According to a recent AFP report, cash for gold shops throughout Italy have been receiving high volumes of business as Italian citizens seek creative ways to supplement their incomes. The most popular items going sold at market rate are gold medallions, gold jewelry, gold watches, and gold pieces. Interestingly enough, Italy has historically had the […]