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Gold Rises After Monday Dip

Posted By kurtnimmo On September 13, 2011 @ 11:32 am In Featured Stories,Old Infowars Posts Style | Comments Disabled

Kurt Nimmo
Infowars.com
September 13, 2011

Both gold and silver prices are up today as the European debt crisis continues to play out.

Gold for December delivery was up $14.60 at $1,827.90 an ounce at the Comex division of the New York Mercantile Exchange and silver prices were up 36 cents at $40.58 an ounce, Alix Steel reports for The Street.

Gold recoevered after a loss on Monday. The metal fell 2.5% as investors fretted over the eurozone debt fiasco.

Investors flock to gold and silver as stock markets slide on continued bad global economic news. Gold is in the 11th year of a bull market, the longest since the last stretch in London in 1920. It is up a remarkable 28 percent this year alone and has bested stocks, commodities and treasuries, according to Bloomberg.

On Monday, the yield on the 10-year Treasury note fell to 1.87 percent, the lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962.

“With rates this low – and the Fed has pledged to keep them low until 2013 – investors aren’t getting much of a yield on their Treasury bonds,” writes Erin E. Arvedlund for Philly.com. “What about gold? There are plenty of ways to invest, but so far gold-bullion investments have outshone the mining stocks.”

In addition to the debt problems in Europe, skepticism surrounding Obama’s so-called jobs program has moved more investors into the gold camp.

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