Tuesday, April 27, 2010

Investors Flee to Gold for Safety

Gold prices moved higher today as investors fled to safety after the S&P downgraded Greece and Portugal, with Greece debt now being classified as junk and Portugal debt being downgraded two levels.

While ongoing opposing possibilities continue to weigh on gold, for now it seems things will continue to support gold prices, and they'll continue their upward move.

The major event waiting on the sidelines is the increase in interest rates by the federal reserve, which they've said isn't going to happen any time soon. But investor will listen closely as usual to any hint concerns over inflation could cause that to change.

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