People who are wondering about the stability of the stock market got little reassurance this week as the Dow Jones Industrial Average suddenly plunged 1,000 points Thursday afternoon - a development that some are blaming on a trading error.
Soon after the market mysteriously dropped for a short time on Thursday, the Securities and Exchange Commission announced that it was working with other regulatory bodies to review "the unusual trading activity" that had taken place. The SEC added that it would make public the findings of its review, along with any recommendations that may come up in the process.
The market closed down about 370 points on Thursday and at one point nearly $1 trillion in wealth was wiped out by the plunge. Media speculation on Thursday suggested that an unnamed trader had accidentally sold 1 billion shares instead of 1 million.
Even without any suspected trading errors, the markets have been rattled this week by the sovereign debt crisis in Europe and related stories like civil unrest in response to Greek deficit-cutting measures, and concern about the long-term effectiveness of a bailout for Greece.
In light of the current conditions in the stock market, dealer gold is one attractive investment option to consider.
Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts
Tuesday, May 11, 2010
Friday, May 7, 2010
Superior Gold Group - Stock market turmoil gives gold a boost
Recent setbacks in the stock market and with currencies like the euro have investors consulting with silver and gold dealers about precious metal opportunities.
The closely-watched euro zone debt problem is proceeding with few clear outcomes, as some financial analysts warn that the future of the currency itself could be at stake if budget problems in Greece, Portugal and other countries are not cleared up.
The stock market shed almost 350 points on Thursday amid investor concern about whether the Greek bailout package would be sufficient to stem an emerging sovereign debt crisis. Countries with high debt levels may be at increased risk for default if their borrowing costs are forced higher by concerns about their credit viability.
With these things in mind, a report from CNNMoney.com notes that gold went past the $1,200 per ounce mark on Thursday because investors were looking for a safe haven in light of fears in the stock market. Gold has long served as a safe haven investment during times of economic uncertainty.
The financial website also noted that gold prices have now hit their highest point since December 4, and that prices could eventually start to approach last year's high of $1,230 per ounce.
The closely-watched euro zone debt problem is proceeding with few clear outcomes, as some financial analysts warn that the future of the currency itself could be at stake if budget problems in Greece, Portugal and other countries are not cleared up.
The stock market shed almost 350 points on Thursday amid investor concern about whether the Greek bailout package would be sufficient to stem an emerging sovereign debt crisis. Countries with high debt levels may be at increased risk for default if their borrowing costs are forced higher by concerns about their credit viability.
With these things in mind, a report from CNNMoney.com notes that gold went past the $1,200 per ounce mark on Thursday because investors were looking for a safe haven in light of fears in the stock market. Gold has long served as a safe haven investment during times of economic uncertainty.
The financial website also noted that gold prices have now hit their highest point since December 4, and that prices could eventually start to approach last year's high of $1,230 per ounce.
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