Gold Drops Most in a Week on Bets Dollar to Extend Rally
Bloomberg reports that Gold fell the most in a week on speculation that the dollar will extend a rally.
Bloomberg reports that Gold fell the most in a week on speculation that the dollar will extend a rally.
The Wall Street Journal reports that if gold continues to boom then the buyers can cash in.
Some analysts have pointed out that gold has few end users and a healthy above-ground supply, so why has it shown so much price strength in the last few years?
Many bullish analysts point to plenty of support for higher prices coming from safe-haven concerns. It’s these concerns, rather than pure supply/demand fundamentals, that have brought prices 13 percent higher in 2010, which gives many an eternal pessimist reason to warn the gold market may be experiencing a bubble waiting to burst.
The most active contract on Tokyo gold futures fell by the daily 150 yen limit as a stronger Japanese currency and weak oil prices triggered selling. For full story, click here
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