Bullish Sentiment May Return to Precious Metals Market
By Peter Kevorkian, United Coins & Precious Metals
Sell Gold in La Jolla – How to do it in a bull market. Peter Kevorkian at United Coins and Precious Metals discusses the current state of gold in the stock market.
Gold prices, like many other commodities on the stock market, are largely affected by world events even though we may not initially realize it. The truth is that any type of global affair can affect public perception, trickling down to the stock market where gold prices either grow or decline depending on public confidence.
Gold prices have made a steady climb into a three-month high in London according to reports at MoneyNews, introducing what many experts believe could be the beginning of a bullish market for gold commodities. Prices climbed after speculation mounted over an attack against Syria, causing the demand for the precious metal to increase accordingly. Silver also rose to a four-month high.
This type of investing is referred to as “safe haven buying” — an investment that is expected to retain its value or even increase its value in times of market turbulence.*
“We are seeing safe haven buying across the board,” said Bernard Sin, head of currency and metal trading at bullion refiner MKS (Switzerland) SA in Geneva according to reports. “Geopolitical uncertainty triggered this buying interest.”
Political apprehension contributed to gold rising by as much as 1.3 percent to $1,433.83 an ounce – the highest since May 14. If gold prices close at $1440.78, it would place the commodity at 20 percent above its 34-month low, introducing by all intents and purposes a bullish market for gold.
