TORONTO, Aug. 18, 2011 /CNW/ - U.S and European stock exchanges have fallen precipitously this morning on concerns over the European banking crises, the broader slowdown in the global economy, and poor economic data and jobless claims. The U.S economic data continues to underwhelm and inflation seems to be on the rise.
Gold has once more simultaneously reached an all time high. The yellow metal is attracting further interest from developments coming from Venezuela. President Hugo Chavez has announced the country's intention to repatriate internationally held gold reserves.
The strength of gold is legitimate, and any dip in the precious metal will likely be viewed by traders as an opportunity to go long with it once again. Silver has gained steam on the back of gold's gains and is now firmly above the $40 figure.
Caché Metals is a leader in Canada's physical precious metals industry, with a wide array of products and services. www.cachemetals.com
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Original Press Release: http://www.newswire.ca/en/story/828287/cache-metals-physical-gold-and-silver-specialists-state-now-is-the-time-to-act-in-buying-gold-and-silver
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