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cbwang888 (25.84)

Gold hits NEW HIGH in euro, pounds and sterling terms

Recs

7

March 02, 2010 – Comments (2) | RELATED TICKERS: GDX , GLD , SLV

 

From Reuter:Gold hits record highs in sterling, euro terms

Looks like investors in Europe are fleeing their currencies and sovereign bonds. They are seeking safe haven and guess what? They are buying previous metals, especially gold.

GLD, from my chart, has turned short term bullish on Feb 16 and the gap is successfully filled. Today is the beginning of the breaking out.

 

 

 

2 Comments – Post Your Own

#1) On March 03, 2010 at 2:18 AM, MGDG (38.64) wrote:

I bought AEM last week at 55.27. Caps is a little slow with the 20 min wait and it started at 56.16. A couple weeks ago I tried to trade AUY thinking it would find support at 11.50. When it failed I bailed on the position for a small loss, although I left my Caps pick open as it was in the red.

The strength of Gold in Euros and Sterling, coupled with Sprott's new physical Gold fund, might be enough to keep it bullish for a least a few weeks or more. The $USD strength the last few months has really kept a lid on Gold priced in $USD.

 

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#2) On March 03, 2010 at 11:48 PM, jesusfreakinco (29.55) wrote:

Let's hope :)

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