Front Core Capital Content With Rise In Gold Prices
U.S. lawmakers averted an unprecedented default on the country's debt recently, but the losing of United States top-notch credit rating as a result of its ballooning deficits has boosted the likes of gold, the Swiss franc and German government bonds.
- (1888PressRelease) August 31, 2011 - Front Core Capital and the market has seen gold rallied new highs this year based on growing fears about the spread of the European debt crisis and the increasingly gloomy outlook for the U.S. economy.
U.S. lawmakers averted an unprecedented default on the country's debt recently, but the losing of United States top-notch credit rating as a result of its ballooning deficits has boosted the likes of gold, the Swiss franc and German government bonds.
Stocks and bonds of the euro zone's more fragile members has come under fire recently pushing yields on Spanish and Italian debt to new highs, while Italian authorities held emergency talks and Spain's economy ministry kept in permanent contact with its European Union counterparts to try to stem the crisis.
A month ago many analysts would have thought gold would pause for breath and move lower, and that US$1,650 would be the target two or three months down the road. There's no stopping it, and there's no point standing in the way of it.
South Korea's central bank said it bought 25 tonnes of gold between June and July to diversify its foreign reserves despite high prices, marking its first purchase in more than a decade and taking its total gold holdings to 39.4 tonnes.
This reiterates the fundamental view that Front Core Capital, most investors, other asset managers, and even central banks hold true; that gold remains the quintessential currency hedge, a stabilizing asset for portfolios, and a safe haven in uncertain economic times.
- About Front Core Capital -
Front Core Capital is a Venture Capital and Financial service company. Front Core Capital caters to the expectations of knowledgeable and discerning investors who seek the highest return on their investments. Front Core Capital is a wholly independent company and, as such, is not restricted in any of the funds or investment products we may wish to utilize for our clients' wealth management and financial planning purposes.
- Press Contact at Front Core Capital -
Zach Amiran, press-contact ( @ ) frontcorecapital dot com
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