Can the U.S. dollar strengthen the value of gold? According to the Wall Street Journal, as the U.S. dollar value continues to decline, the value of gold continues to rise. Even when trading with other countries, they would rather accept gold as a form of payment. Some analyst speculated that gold will eventually surpass the dollar and will be the currency of choice for the United States. However in this broken economy, gold is not the only metal that benefited; silver and platinum has also made a significant increase in the market. In addition, the euro catapulted to a six month high and traded at $1.3735. Meanwhile, as the value of gold continues to soar, so do jobs related in that industry. The needs for miners have increased. Additionally, the mining companies are already forecasting their production to increase for future profits.
No comments:
Post a Comment