Dec 7, 2011 5:45 am
The gold markets seemed to take a long deep breath and hold on for a proposal about the currently in flux debt situation currently creating turmoil in Europe and through out the global financial world. A potential price drop would be ensured if leaders of the European Union, particularly Nicolas Sarkozy of France and Angela Merkel of Germany, failed to reach a comfortable deal to stabilize their current monetary problems.
Gold, normally the safest investment, has been pushing boundaries of price for some time now and is currently seen as getting closer to be a risk asset. That said gold's current price of roughly $1,732 an ounce is still quite high given historical precedents for the asset. This could mean that today is the best day to decide on selling gold in NYC. You could find yourself with a slightly less valuable commodity in the coming days. Still compared to risky stocks and other investments NYC gold buyers are still quite confident and comfortable in their decisions. As markets correct for these large fluctuations it remains very likely that gold will not slip irredeemably into it's pre-recession lows. Instead those who got into gold in and around the crashes of '07 and '08 will find they made a wise choice.