The most recent Resource Investing News biannual Investor Survey reveals that while investors remain optimistic about the long-term potential of the commodities markets, a large majority are hedging their bets on precious metals like gold and silver.
Bloomberg reports that Gold advanced for a third day on concern that the European debt crisis may escalate.
Bloomberg reports that Gold, little changed in Asian trading, may gain as concerns about Europe’s debt crisis.
Bloomberg reports that Gold may climb in New York on speculation a deal to rescue Ireland’s banks will curb a spread of the debt crisis.
Indexuniverse.com reports that Gold’s recent surge to be about two key factors.
: Dig Media recently conducted its Resources Investing News 2010 Survey to gauge the interests of its readers and gain insight into investors’ perception of the markets. Perhaps most telling was that nearly 69 percent of respondents said they believe the price of gold will reach $1500 before the end of 2010.
A late morning $20 bounce put a smile on every gold bug’s face, and by mid-day the precious metal had shot above $1240 an ounce, hitting a high of $1246.20 late in the day. Prices backed off a bit to close at $1241.30 an ounce on the COMEX.
Gold is in a tug of war between the bears and the bulls this week, fighting off forces determined to push it down below the psychological $1100 level while at the same time struggling to break above $1135 an ounce.
By Kishori Krishnan Exclusive To Gold Investing News Dump your gold and lick your wounds. Don’t do it in private though. There are lots of folks out there in a similar position. The Fed is bound to raise rates sooner than you think, and gold has peaked. Muted investment demand, coupled with a change in [...]
Get our independent commentary on gold trends and companies delivered to your inbox.
