Replies to post #66127 on TECHNICAL ANALYSIS

[takeover]

Gold stocks are HOT HOT HOT

ABX NEM BHP and penny GSPG

Radaring DKGR - financials just posted and expectations say news might be on its way

Gold surges above $800 after Fed cuts rates
The precious metal rises to new high for the first time since 1980

By Polya Lesova, MarketWatch


NEW YORK (MarketWatch) -- Gold futures surged above $800 an ounce for the first time since 1980 on Wednesday after the Federal Reserve cut the fed funds rate by a quarter-point to 4.50% and said that the recent spike in commodity prices may put renewed upward pressure on inflation.

In after-hours electronic trading, gold for December delivery rose as high as $800.80 an ounce on the New York Mercantile Exchange, its highest level in nearly 28 years. The all-time high for a benchmark gold contract on Nymex stands at $875, set on Jan. 21, 1980.