AEMP - The rise of the gold was the first notice of the economic crisis
05-07-2010 golden marketMarion Mueller of the Spanish Association of Precious metals: "Frightened investors of the construction and of the swaying of the bag see in the gold the suitable value to protect his belongings. In the last decades it was predominating over the market destined for the jewelry shop, but, from last year, there is that of the investment in gold the one that it orders. The whole material that is bought at present is melted to transform it into golden ingots, which it is with what more is negotiated.”
To the judgment of M. Mueller: "The golden ingot there is today the most tangible currency, the only one that can be created nor altered for the governments. It is the only raw material that is not consumed. Along the history 166.000 tons of gold have been extracted and, except 2 %, everything keeps on being present. The best test of his importance is that the Central Bank of Europe is stopping selling it and of emergent countries as China or India they do not stop buying others. This situation can still be supported a lot of time, at least until the world economic situation shows clear stabilization signs again. At the moment, the fact that the golden market keeps on showing a clear tendency to the rise it does not augur an early recovery.”
His theory is well clear:
“The increase of the price of the gold from 2002, when the ounce was costing 250 dollars, already was anticipating the current situation. The rise of the gold was the first notice of the economic crisis. And while his value does not look again down, the world market will continue renqueando.
Margin of increase of the gold
“The market can still keep on rising, and very much. The gold in 1980 went so far as to cost 850 dollars, which, added the inflation up to today, would be equivalent to 2.400 euros; so there is still margin.”
From the Spanish Association of Precious metals, in any case, it is alerted of that, to the margin of the changes of prices, it becomes necessary to confront as soon as possible the collateral effects that the market is producing and that have his maximum expression in the proliferation of shops arisen in the sector.
Every operation that they realize is marked by the secretismo. There is a big disinformation on the part of the professionals who manage them and, although the Spanish laws are very strict, the prices put themselves the tuntún, he criticizes.
05-07-2010
