Gold Prices Up As Fateful Weekly US Jobless Claims Figure Looms

In light of the looming monthly report on Friday regarding US unemployment statistics, the gold prices have gone up again. The reason is simple. Global investors have been worried over the possibility of additional layoffs at the United States Post Office, and that could affect the liquidity in the US financial system.

And although you don’t want to buy a gold bar just yet, it is true that gold stocks are also growing. The continued demand for precious metals will drive prices higher, so this might be a good time to jump in. Here are some reasons why gold stocks are rising.

One reason gold has made a comeback is that it’s a physical commodity. Commodities are going up all over the place, and gold is no exception. You can get gold from warehouses that are only open during certain times of the week, and those are going higher. Gold bars and coins are also seeing a spike in popularity.

A week ago, Eurafx was the seventh most popular stock in the world. Now it’s number six. As for the reason, the European Central Bank (ECB) decided not to take part in the FX market. That was a bad decision, as currency markets around the world had been weaker than expected.

We’ve already seen the European currency plummet in value. The news regarding the Euro became worse when Deutsche Bank announced they’re taking a 5% hit on their income and profits due to the banking crisis. They had to make the announcement now, because they didn’t want to run the risk of Greece and Italy going bankrupt, leaving them with a large amount of debt. Some say it’s too late, but they’ve already lost half of their banks.

It’s a bit hard to understand how this affects the European stock market, but some believe that the ECB went into bankruptcy thinking they’d just stay afloat for a little while longer. Now, the recession may continue for several more months.

This will certainly have an effect on gold prices. People were selling their gold earlier in the year, because the price was too low, but now they’ve started buying again, so we are now getting a return to normal, so it looks like this one hasn’t affected the price of gold yet.

Another reason gold is up in value is because we are seeing more liquidity. Investors are pulling money out of banks, and it’s becoming more difficult to secure loans. The problem is that a lot of people are trying to put money in the banks, but banks are already having a tough time getting capital.

Therefore, a lot of people have made it clear that they are putting their money elsewhere, including gold. The best way to invest is to own gold, because it’s harder to manipulate. As a result, its value will rise with a little more certainty than stocks, bonds or cash would.

If you own stocks, bonds or cash, you’re not a risk-taker, so you probably aren’t going to try something new. But if you’re trying to save for a house, retirement or to send your kids to college, then gold is a good way to start. There’s something comforting about knowing that something you own will last forever.

However, another huge benefit of owning gold is that you don’t have to worry about your money going to waste. That’s why you should always have a couple dollars stashed away in gold, ready to invest if your portfolio changes.

So, if you haven’t been buying gold lately, then you should go ahead and get some right now. Keep your eye on gold prices, and you should see a big rise in price.