Gold producers: Gold rose to a record for the eighth time in two weeks yesterday as the dollar dropped to the lowest level since early February. ~Shani Raja
It’s the highest price since yesterday. There is a bearish in Asia and Europe session on Sept. 28th, but strong bullish in US session.
Technically the price is very high and there is still a chance the market will keep bullish while the US Dollar drop. It seems there is a very high correlation between US Dollar and Gold Price right down. Whenever the dollar stumble, the gold will rise. Of course what would be the best indicator right now wouldn’t be the best indicator for the next trend. It’s just like picking a girlfriend.
One thing for sure, most of people or instance out there has been spreading their array of portfolio since they learned the lesson from Lehman Brother’s case. One of their portfolio is precious metal which is gold. Right now the gold is still hot issue. Here is one of the quote that I found it very amusing.
Gold is ?a great asset for people who are rich and who want to stay rich,? said Graham Birch, a former manager of BlackRock Inc.?s BGF World Gold Fund, at the London Bullion Market Association conference in Berlin yesterday.
Invest some in Gold if you have cold money – the money which you don’t know what to do with. If you want to ask anything regarding gold, please feel free to comments or email me at indra@antamgold.com
Happy Investing,
Indra
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