Gold Surprise: Yellow Metal Reaches New ALL TIME High Closing Price of $1,422
Today Bloomberg reported a record high closing price for gold, as investors sought a safe haven from European sovereign-debt problems.
As the ratings agency Moody's reviewed the credit ratings of Greece, Spain and Ireland over the past month, investors have moved out of risky European debt, and into gold. This was followed by today's membership admission of the euro zone's newest member, Estonia, as the 17th member of the club and a country which as traditionally had it's own bouts of debt crises and deficit reduction challenges.
According to metals trader Matthew Zeman of LaSalle Futures Group out of Chicago, "All commodities are going to benefit from the fear of future inflation, and investors will continue to pile into hard assets." Gold appreciated in price by 29.7% in 2010.
While gold continues to rise, some investors are seeking the safety and reliability of income in the gold sector. To help investors find the best income in the gold market, Ian Wyatt, Chief Investment Strategist at Wyatt Investment Research, recently released a research report on the best dividend paying gold companies in the stock market.
He's uncovered a little-known American gold stock paying over a 9% annual dividend with the next scheduled payout coming right around the corner.
Click here now to take a look at Ian's research.
