Gold Prices are Going Up

Gold prices continued to climb on Black Friday, reaching $1750 at the close. Silver prices are also edging higher on fears that a dysfunctional US Congress will not be able to reach a compromise and avert the fiscal cliff crisis.

Some of the increase in gold prices can be attributed to the debasement of the dollar by Federal Reserve policy advocating a zero interest rate and easy money, which misallocates capital and in doing so reduces its value. Additional demand is also responsible for some of the increase in value.

Stay tuned for further developments as Houston Gold Merchants keep you up to date on financial information and commentary.

Institutional investors are choosing gold more frequently than in years past and this demand also fuels the increase in gold prices.