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Resurgence Of Gold After Being Stumpy For Three Months


Gold being one of the most precious elements today is now more in demand due to the economic crisis, which is being faced by most of the countries, like United States of America, European countries and many others. Now investors find gold being a better investment and more profitable investment than the dollar or euro because of its wide availability and more demand, especially among females and more well of the masses.

There are many investors that have changed direction from the currency investment of the dollar and the euro and are now investing in gold, due to the increase in demand of this precious metal; the gold demand seems to be on the highest amongst the women and the general masses of the world.

During the past couple of months, gold faced its biggest fall making its decline for a continuous period of three months. The largest gold miners of the world who also posses the strongest position in the gold market are the United States of America, Canada, Australia and China.

During the past three months gold has seen a decline of about 2% which is the highest ever recorded during this recession in the gold market. Investment in other precious metals was seen to be too risky as the financial crises already lead to massive trading of gold.

Gold had to face even more severe losses, when prices for gold fell more than four percent, because of the rising economical crises and economic disparity seen in the euro zone economy. This includes economy of countries like England, Switzerland, Ireland, Denmark and others, due to which Euro was thrown out of the market, and its prices fell even lower. As these euro zone countries are trying to cover the cost of their debt, euro fell even more low against the dollar after May last year, which made gold even more weaker in Europe.

Gold faced an additional loss of 4 % due to the increasing economical crises and disparity seen in the euro zone economy, this zone includes countries such as, England, Switzerland, Ireland, Denmark and many others.

Due to the rise in these crises, the euro was removed from the market making the gold prices fall lower. During the month of May last year, the euro fell further low to the dollar while they were trying to recover their debt costs, this situation made the gold prices go further down in Europe.

The buying and selling of gold was severely effected due to the global economic slump. Research shows that the rate of unemployment rose to its peak and many people were left stranded from acquiring gold. Many people ended up trying to save every penny for their survival rather than spending it in acquiring the precious metal. Heavy losses were faced by the gold markets and sellers; as the gold prices were forced down to revive the gold trade and gold price. Due to the fall of economies in the euro zone, gold faced further decline in its value. The only hope of survival was seen when one of the largest gold mining companies known as COMEX Gold Trust, gained immense bidding and investment opportunities. Soon after gold started to recover in just about three months, on the other hand the dollar and euro also started to gain muscle, but the buyers yet again turned all their investments towards gold.

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