"Asia Pacific Group" – Gold Soars Close To $1000…

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 9, 2009 -- A perfect storm – that’s the phrase reportedly being used by Asia Pacific Group analysts when describing the conditions leading to the mercurial ascent of the price of gold in recent weeks.

The precious metal has decoupled from the rest of the commodity complex and has soared to its highest level in 7 months as uncertainty over the US government’s bank rescue plan, the critical state of European banks exposed to vast debts in Eastern Europe and doubt as to whether the US dollar can withstand the burden that over 3 trillion more notes will bring to bear upon it.

An individual familiar with analysts at Asia Pacific Group said that the form was convinced of the precious metal’s value as a safe-haven and as a store of wealth and that investors who had deleveraged last year and sought the so-called safety of US bonds were now beginning to question how US Treasuries can protect wealth when the US government is employing measures that will ultimately devalue the dollar significantly.

Asia Pacific Group reportedly suggested in a note to clients that gold would surpass its record of $1030.00 set in March 2008 in the wake of the collapse of Bear Stearns.

Asia Pacific Group     AsiaPacificGroupfinancial     financial