Gold prices finished Friday by hitting a two-week high. Over the past month, the yellow metal has been steady between $1,610 and 1,680 per oz. The climb in price is a direct result of the worse-than-expected American economic forecast. However, Gold remains in the same range as it has been for the month. Commerzbank analyst Carsten Fritsch said, “At the end of the year, we expect Gold to resume its uptrend, but not before that. We expect this range in trading to continue.” The thought of further economic stimulus in the United States is frightening to some, but may be needed to ensure a boost to the financial system. Unsatisfactory jobless claims reported Friday morning pushed the Gold price up and the U.S.A. dollar down, as they usually have a negative correlation with one another. James Cordier at OptionSellers.com said, “The job market is softening, and the Federal Reserve may be forced to look at some form of easing. Investors have started pricing that in.” Previous rounds of quantitative easing have been bullish for Gold
Although not a member of the euro, the United Kingdom’s double dip recession is alarming to the European Union as a whole. England faces its own concerns revolving around quantitative easing. The slump in construction and decline in gross domestic product are not “supportive of the fiscal consolidation program, so the government is likely to be concerned about that. The data were bad, and that supports the view that the Bank of England will do a final 25 billion pounds of quantitative easing in May,” economist Philip Rush said. European concerns took center stage this week, as attention focused on the French presidential election and the potential political and economic collapse in the Netherlands. In France, Socialist leader Francois Hollande won the first round of elections over incumbent Nicolas Sarkozy. The markets widely viewed an election won by the challenger as a blow to the European recovery.
It’s Akshaya Tritiya! Many people are not aware of this important event. It is one of the most important celebrations in the Hindu faith and in India. It is believed that buying and wearing Gold brings good luck. The yearly celebration has raised the demand for Gold for many years. Not all the news out of India was golden, however. India, which is Asia’s third largest economy, had its sovereign credit outlook lowered to “Negative” by Standard & Poor’s credit rating agency. The decision resulted from rising concerns over a decline in growth and current account deficits. Friday’s action by S&P “is a negative move and further solidifies the macroeconomic risks India is facing,” said Rajeev Malik, senior economist at CLSA Asia-Pacific Markets in Singapore. “Coming from the most conservative of the rating agencies, it’s a wake-up call for the government to do something meaningful soon.”
Featuring two great symbols of France, the Gold French 20 Franc Rooster is a beautiful fractional Gold piece that offers both investing and collecting appeal. The Rooster depicts iconic French imagery used since the days of the French Revolution. Marianne, whose profile is featured on the obverse of the coin, is the symbol of the French Third Republic and represents the French expression of liberty and reason. The Gallic rooster is depicted on the reverse and represents France as a nation as well as its history, land and culture.
Minted and circulated as French currency from 1898 to 1914, almost all of these 20 franc coins are more than 100 years old, adding to their collectible appeal. Like many circulated Gold coins from this period, this little French beauty is 90 percent pure, giving it a longer life in circulation.
Though the French Rooster was used in circulation 100 years ago, it still trades at an affordable bullion price. The Rooster’s fractional size of less than 1/4 oz offers investors a lower price point to enter into the Gold market. Its actual Gold weight is .1867 oz allowing investors to buy and sell in smaller quantities if needed.
With the combination of fractional bullion appeal along with rich historical symbolism and usage as currency more than a century ago, the Gold French 20 Franc Rooster is a popular choice for the discerning collector or sensible investor. Order yours to add to your investments or collection today. AMPEX makes it easy to buy fractional Gold by offering competitive Gold prices on all Gold products.