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Sunday, May 23, 2010
Wednesday, May 12, 2010
Wed, May 12, 2010 at 11:43 | Source : Reuters
Gold struck another record high above USD 1,230 an ounce on Wednesday on safe haven buying as investors bet the euro zone debt crisis could spread beyond Greece.
Jewellers cashed in on the rally and dealers noted a pick up sales of scrap in Asia, which could curb further gains. But any correction could be limited as a USD 1-trillion European rescue package had done little to ease fears of euro zone debt contagion.
Tuesday, May 11, 2010
Chuck's Commodities Blog | Tuesday May 11, 2010
Gold prices would normally retreat after the financial markets stabilize from a recent financial crisis, but not this time. Gold prices plowed ahead to close at a record high and the market continues to move higher in after hours trading. June gold futures are trading at $1,233 an ounce as I am writing.
The U.S. stock market returned to business as usual this week after a major bailout in Europe. This stock market loves it when problems are set aside to worry about in the future. The gold market is really loving this situation as gold investors know the problem down the road is just going to get bigger and that spells higher prices for gold.
Labels: Gold Rises