Well we have broken $1000 USD multiple times now...and each time it becomes a more important 'psychological' breakthrough. Sentiment is crucial when talking about precious metals since they do not truly fit into the class of a commodity or a currency. Gold is however where nervous investors (and mums and dads) will flock when they have nowhere else to go...
Sure gold could get thumped in the Americas tonight but I would be holding any ounce bought under $1000 USD as these prices could be a thing of the past. I am looking forward to seeing new highs for gold this year...then the beers and bubbly may flow.
PS. I dont want to hear anyone say anything about the AUD price of gold. Heard it all before. Sure it is important to an aussie gold miners bottom line but current prices DO deliver (and have further potential to deliver) very good profits to the worthy Australian Gold Producers. You just have to know the right ones.
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