"I think you are seeing large scale end-of-month and end-of-quarter fund buying hitting the gold market," said Zachary Oxman, a senior trader at Wisdom Financial.
"The sell-off in the U.S. dollar is also aiding the market at this point and as the U.S.-negative data continues to come out negative and the housing issues continue to grow and worsen, the flight to quality in Gold will continue," Oxman said.
"Consolidation looks set to be an ongoing theme [on the Gold market]; however, crude has pushed back above $81 a barrel and will be closely monitored for signs of inflationary impact on both the U.S. and global economy," said James Moore, metals analyst at TheBullionDesk....
Play it safe and stay in Gold mining -
Politicians can't stand seeing the value of their own home dropping ever month,,,, they will stimulate and when that doesn't work they will stimulate some more, again and again and again---until we go over the cliff into hyper-inflation.
Got NXG Gold Mines Safety - The Largest Gold Producer in BC - The lowest cost Gold Producer in the mining industry - http://www.northgateminerals.com Imo. Tia. God Bless
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