Thursday, September 10, 2009

China et al: Puts Floor in Gold Market

LOS ANGELES, CA - FEBRUARY 20:  Gold bracelets...

Image by Getty Images via Daylife

by asiablues

Gold finally made its run above the magical $1,000 mark on Tuesday, September 8th, 2009 breaking free from a two-month trading range between $930 and $970 an ounce. For the third time, gold soared past the $1,000 level, causing the market to eye the precious metal's record of $1,033.90 reached in March 2008. While Citigroup is predicting a $2,000 scenario by next year due to continuing dollar weakness, a number of bullish factors, both near and long term, have converged to boost gold.

China et al: Puts Floor in Gold Market

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