Gold's rise attracts prospectors and thieves alike Worldwide
It has been called the saint-seducing metal, with good reason.
The Gold price stands at near record highs, and people from St.Louis to Bangkok are selling jewelry and/or buying Bullion, some are giving up regular jobs to go treasure hunting, and theft of Gold chains and watches is on the rise Worldwide.
Spot Gold sells for 1,830 oz now, up nearly a 33% so far this year, and with currencies and stocks faltering the fever for Gold has gone Global.
Many folks are cashing in on the Gold they have at home, although the trend is slowing in the belief prices will continue rise.
But experts say sales of recycled Gold will rise only about 5% this year, against 30% in Y 2009.
Savvy investors see opportunities in Gold's price volatility. Although prices have been rising steadily since the start of the year, gold has traded in a range between 1,600 on the low to as high as 1,900 in August alone. And dealing in physical Gold, it is much easier since there are no brokerage fees or delays in payment.
Dubai, Casablanca, Pathanamthitta in southern India, all have been hit by major robberies linked to Gold in recent weeks.
In Ghana, a Gold dealer is being accused of fraud after he alleged he was held up and robbed of Gold he had promised to customers.
Grabbing Gold chains is reported to be on the on rise in London, China, across the United States and many other parts of the Globe, but especially in India, which is the world's biggest buyer of Gold.
In France, there were 183 armed robberies of jewelers in 1-H of Y 2011, up from 138 in the same period a year earlier, according to OCLCO, a police agency that investigated organized crime.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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