International Business–“Mann International”– (Gold May Breach $1000)...
(NewDesignWorld Press Release Center) -- August 4, 2009, New York, USA- “Mann International” sees US dollar weakness helping gold through the $1000 barrier and beyond.
“Mann International” sources say that the Asian-based broker fully expects gold to breach the psychological $1000 per ounce barrier this year. The US dollar has resumed its downleg at the same time as investor demand for US treasuries wanes in the face of massive issuance by the US government.
“Mann International” believes that the detrimental effects of quantitative easing and loose monetary policy has become too difficult for investors to ignore and, consequently, the price of commodities, including gold, priced in US dollars has begun to rise.
Gold is traditionally seen as a hedge against inflation and government monetary and fiscal largesse. The metal has spent the best part of the last four weeks consolidating in a range building momentum for yet another assault on the £1000 mark.
“Mann International” continues to advise clients to hold physical gold or ETFs tracking its price reasoning that the Federal Reserve will come under pressure from the US government to keep buying US treasuries if the consumer doesn’t recover quickly enough to boost economic figures and encourage firms to hire workers.
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