Why Gold Prices Hit a New Record High
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Quietly and without much fanfare, gold prices broke all time record dollar denominated highs on Wednesday.

At the same time, Ben Bernanke testified in front of Congress saying that gold is not money. The end of day chart below tells a different story.


 
If the Chairman of the Federal Reserve is not ready to admit that gold is indeed money, and that it has been for the length of human civilization, you have to wonder what he’s afraid of.

So why is gold rising in price?

You don’t have to look far for a reason.
 
But two of the biggest reasons are demand and uncertainty.

We’re seeing more and more demand out of Asia, especially as new ETFs in India allow regular investors first-time access to the gold markets. India has traditionally been the world’s largest buyer of gold for jewelry (more as a store of wealth than for status, though that’s important, too) and now that market is set to buy bullion itself through ETF investments.
We’re also seeing increasing uncertainty about world sovereign debt issues, whether we’re talking about broke Italian banks or an American Congress that’s befuddled about how to cut one penny of the world’s largest debt.

As long as the world’s investors see no improvement in sovereign debt problems, and as long as the China and India growth stories continue, we’ll see gold prices rise.
Today, we’ve made available to you a simple investment report all about collecting income from a specialized gold stock.

This stock currently yields over 8% annually. It’s a direct play on the strength of gold’s price.

If you’re interested in this report and how you can get paid from a specialized gold investment (next payout is less than a month away), click here now.





Posted 07-14-2011 11:22 AM by Ian Wyatt