Mostly: Classical

[amarksp]

martin m sighting...

According to the Gold Monitor, gold should be about $638 today, “which is also not ‘inspiring’.” The report estimates a probability weighted average of $677/oz in Q3 and $691/oz in Q4. In 2008, the probability weighted average for all four quarters is placed at $733/oz.

“Our near-term bias is neutral and our long-term bias is bullish,” said Martin Murenbeeld, chief economist of the Dundee Group of Companies, publisher of the Gold Monitor. “We are in the summer doldrums - the ‘dog days’ of summer – and while volatility cannot be discounted we may not see much action until September.”