Well gold is well and truly hitting the headlines now. It's gone mainstream!
-> http://www.news.com.au/business/breaking-news/gold-hits-record-price-as-investors-search-for-safe-haven/story-e6frfkur-1226111376360
"Investors are looking upon the ECB bond-buying as the first step towards the same kind of quantitative easing program the Fed is doing. So, gold acts as the only currency that you can't print more of, and you are seeing a huge institutional demand for it ...
Adjusted for inflation, bullion is one of the few in the commodity complex trading below its adjusted all-time highs, estimated at around $2,500 an ounce.
JPMorgan said it expects spot gold prices to climb to $2500 an ounce or higher by year-end, on very high volatility, following the downgrade of US debt. The US bank said that its previous estimate of $1800 was "too conservative."
The prospect of an even longer period of low US interest rates prompted Goldman Sachs to raise its three-month forecast for the gold price by about $100."
and this
"As Wall Street tumbled, the shares of gold producers including as Newmont Mining and Barrick Gold topped the US percentage gainers, and SPDR Gold Trust, the No. 1 gold exchange-traded fund which largely tracks bullion prices, rose sharply."
Where in for a wild ride. First bullion, then producers, then explorers. Fasten your seat belts!
- Forums
- ASX - By Stock
- GOLD
- gold shares rise amid market tumble
gold shares rise amid market tumble, page-6
-
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
HAR
HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
Previous Video
Next Video
SPONSORED BY The Market Online