Gold held steady in the Asian session, up 80 cents from its previous close. As well, according to a Triland Metals report, bets are on the escalation of gold prices. Reviews of the current situation are also indicating that, “there could be a lot more selling to come.” As well, Barclays is anticipating that gold will enjoy “the strongest start in 2013” among precious metals. The Bank further believes that there are various “positive macro catalysts” that might back a “move higher in prices.”
However, it is anticipated that the concerns of the now much-talked about “fiscal cliff” (a slew of tax escalations and budget cuts due to start in the coming year) will weigh heavily on markets, despite American lawmakers desperately trying to find ways to avoid this pitfall. Nonetheless, with more liquidity, gold benefits since the precious metal is viewed by investors as being somewhat of a safeguard against inflation. In this case, it really could be the perfect time to look into gold purchase with companies that sell commodities.
Indeed, there might be no better time at all for Americans to look into purchasing gold. Currently, to buy gold with dollars, the prices rallied from their base level since August last Wednesday in London, recovering to $1662 per ounce. In addition, Gold futures for February delivery gained 0.1 percent to $1,673 an ounce on New York’s Comex.