The US Dollar Opens the week down 0.66%

As the Australian, New Zealand and Asian markets get into full swing the US Dollar slides to register a loss of 0.66% causing gold to move inversely against it and improve by around $17.00/oz, to $1154.70, with silver joining in the fun with a gain of $0.30 to $18.78.

Its 4.00am in the UK so there is a while to go before they commence trading and a lot can happen between now and then. However if these gains can be maintained it will be interesting to say the least to watch the reaction on the NYSE. If gold is still motoring north then expect a wet blanket to be thrown over the precious metals sector in an attempt to dampen the enthusiasm for this tiny sector.

It should be a good day for the stocks if Australia is anything to go by as miners such as Newcrest Mining Limited (NCM.AU) has gained 2.32% to trade at $37.04, so fingers crossed once again.

All the best.

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Comments

[gold bug]

How about an update on the portfolio as it is a new year. Last one appears to be September2009