“The market is convinced that the dollar will go down after a Fed Funds interest rate cut.” “There is little doubt that gold is now here to stay above $700 and the market is reflecting it.” – Julian Phillips, Analyst,…
Gold closed above $700/oz today (Thu 9/6) for the first time since May 2006. In fact, gold has been on a tear for the last month rallying from around $650 (1 year chart). As people anticipate a rate cut, which…
Gold closed at $695.80 today according to Bloomberg. Peter Grandich, editor of the Grandich Letter, wrote (subscription required): A near perfect storm has aligned both technically and fundamentally for gold. A test of the 2006 highs around $735 is not a…