Golden Haven:

Precious Metals prices are relatively flat today, as the equity markets in the U.S.A. climbed 100 points during morning trading hours. Better than expected business sentiment out of Germany boosted the euro and pushed Gold prices slightly higher. In general, Gold prices are caught between the unlikelihood of QE3 versus its safe haven appeal in the face of a ramped up European debt crisis. The International Monetary Fund and the World Bank are meeting this weekend to discuss the euro crisis. News from that meeting should affect Gold prices at market open, 6 p.m. (EDT) Sunday.  While Gold serves as a safe-haven investment for sectors ranging from individual investors to central banks, it may also be helping in an area that is a key to economic recovery: jobs. The Colorado School of Mines has a 94 percent employability rate for its 2011 graduates. Starting salaries are in the mid-$60,000 range, which is significantly higher than the average starting pay for other college graduates. In the 1990s, Gold averaged $350 per ounce; now, the price is more than $1,600, and with that comes an overflow of opportunity for the next generation’s precious metals work force.  Analyst’s reference to Gold as a safe-haven investment is not always referring simply to economic turmoil. Geopolitical tensions can also cause a boost in Gold’s appeal, such as the current situation with North Korea. After that country’s rocket failure last week, the U.S. is looking at “all options” to stop North Korea from conducting a third nuclear test. The U.S. already has halted food aid for the country after an agreement was broken by the aforementioned rocket launch. Continue reading →