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:
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
To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.
For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.
For those readers who are also interested in the nuclear power sector that is currently coming back to life, you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.