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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.