Equity Placement News Private Equity Placement Gold Edges Higher on AIG Bail
Private Equity Placement Fed rescue of AIG seen as good for gold.
Private Equity Placement believe that the bailout of AIG is responsible for the gain in gold prices.
A source close to Private Equity Placement said the bailout indicates that US economic growth will slow, weakening the dollar and increasing demand for the metal as a haven.
The dollar is falling against currencies including the euro. “The AIG and Freddie, Fannie bailouts have cost the US Government over $400 billion and that is going to put extra pressure on the US economy,'' said the Private Equity Placement source.
Private Equity Placement cited a report that Venezuela's central bank is considering buying gold to start a domestic gold coin program for investors.
“Investors may be losing confidence in the value of the dollar as a viable store of wealth. Our clients have heeded our advice and increased their exposure to gold, gold mining equities and ETFs (Exchange Traded Funds) which track the price of the underlying commodity,” said the unnamed source.
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