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« Is the Fun for Gold Just Beginning? | Main | Will the Real Price of Gold Please Stand Up »
Tuesday
Sep082009

Gold Pushes Above the $1000 Mark

Kitco Gold Chart 08 Sep 09.JPG
Charts coutesey of Kitco.com

The above chart shows gold pushing above the $1000/oz mark in Hong Kong prior to the opening of the London trading session. With New York closed for Labour Day yesterday, traders could be returning to their trading desks today to see gold in a rampant mood.

Silver has also joined in the fun as the chart below indicates:

Kitco Silver Chart 08 Sep 09.JPG


Could be one of those weeks where we have to hang on to our hats as the action unfolds in an explosive manner. Speculation runs riot in times like these so it is important to try and stay calm as the volatility increases.

Today will not be the same as the bull run of the eighties when news of increases in gold prices traveled around the globe at a leisurely pace. These days all eyes are on the price changes as they happen, sticky fingers on the buy or sell button as investors and traders look to make a buck.

Have a good one

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