A global scramble for the asset is now unfolding, as the fund-driven price action is snowballing and attracting investors from all walks of life. |
A number of respectable institutions raised their current year and 2007 forecasts for gold and more of them are no longer afraid of mentioning the word 'record' when it comes to future gold prices. |
Although gold remains vulnerable to at least another bout of selling as we head into next week, the fact that it erased Thursday's losses demonstrates (for the time being) the fact that this bull is alive and kicking. |
Amid signs of growing dollar weakness and despite positive consumer confidence numbers ... gold resumed [on Monday] its familiar pattern of corrections followed by bounce-backs. |
Aside from the amalgam of worrisome news items coming from many corners of the globe ... the investment community is also looking with apprehension at economic news and has nothing to smile about. |
Buoyed by the Nigerian oil sabotage news and a weaker U.S. dollar, gold has reasserted its safe-haven attributes since last Friday. |
Diversifying away from dollars has become desirable -- retail investors returned to the precious metals arena in droves this week. |
Expect volatility to go higher and trading ranges to expand. |
Gold appears to be reflecting the lack of fresh bad news ... rather than true profit-taking. |
Gold as well as silver continues to benefit from a robust global growth pattern and consumption of all types of commodities. |
Gold burst decisively through the $560 mark...even as many participants are out for the U.S. holiday. |
Gold closed out the week on a firmer yet inconclusive note as traders squared logbooks ahead of the weekend. |
Gold is as much a mirror of current human events as it is a barometer of future asset values. |
Gold would like to go somewhat lower to follow long-established seasonal patterns as well as to complete the corrective phase it was in, after a swift race to nearly $600 per ounce. |
In a world where news stories continue to make ominous ripples, gold is acting like the thermometer of collective global anxiety. |