Anyone who sells good will always be on the winning side, because of its huge rate in the market. However, this may not be the same thing to be said when you’re thinking of buying and selling this mineral. Just like the currencies, gold values have also been experiencing a series of fluctuations, and one of the lowest of which just happened last Thursday.

During the early hours of trading, the value of gold plummeted to $700, though it’s expected to increase to $705 sometime in December as a means to recover its downfall, where its value was pegged at $698.20. Thankfully, in a matter of hours, it significantly rose to $730 for every ounce, which may mean that investors may have slightly recovered some of their investments.

Nevertheless, this is really something that’s not worth rejoicing yet, as the gold was only able to pull its values up when the value of dollars against euro plunge, along with President George Bush’s prediction that there will be a lot of harder days ahead of us.

The Condition Before

For the past two weeks, the dollar has been going high, after the euros continue to fall, especially now that Germany is also under recession. This also happens even if the Bank of England expresses their interest of cutting rates. On the other hand, gold is $30 below than its previous value last week. In fact, it has already lost over $300 from its high value of more than a thousand last March.

A Sobering Comment by George Soros

George Soros, considered to be one of the richest men in the world and the one who broke the Bank of England, testified in House Oversight and Government Reform Committee and believed that it will be a very long time before the United States will be able to pick itself up, more so when it still has to go into deep recession. Hedge funds, on the other hand, pointed out to be one of the leading causes of the economic breakdown, will be decimated.

Making things worse is the news that there will be no stopping to the continuous rise of foreclosed properties in the United States, which may leave thousands of families either homeless or still in huge debt. In fact, last October 2008, there was a sharp increase of 25 percent of foreclosed homes compared to the data last October 2007. As there are more and more companies that are closing, going bankrupt, or cutting down their costs, there are also thousands of Americans who are already without jobs. One of the most surprising proofs is the increase of more than a thousand of unemployed individuals in a span of just a week.

On a lighter note, the Department of Commerce already released a report on the trade deficit of the United States, and it has been revealed that there was a reduction. From almost $60 billion in August, it went down to a little over than $55 billion. This is better than what economic experts expected.