Investors rush into gold
Ned
Investors in Europe and North America went on an
extraordinary shopping spree for gold coins and bars in the
final quarter of last year, snapping up 148.5 tons, a jump
of 811 per cent compared with the same period in 2007.
This rush into physical gold by western investors pushed
global retail investment up almost 400 per cent to 304.2
tons, according to the industry-backed World Gold Council,
which released its fourth-quarter Gold Demand Trends report
yesterday...
Continued: http://snipr.com/c6oza
Ned
<740c86a458ea51ee...@pseudo.borked.net>
MarketWatch http://snipr.com/cas4d
Gold futures soared as high as $998.50 an ounce Friday, as
investors spooked by the sell-off in U.S. stock futures and
international stock markets sought safety in the precious
metal.
Gold for April delivery rallied to an intraday high of
$998.50 an ounce, just a few dollars below the
psychologically key area of $1,000 an ounce...
"There is a risk here of a panic sell-off in stock markets
and the next leg down in the stock bear market looks
imminent, as the ills of the global financial system
virulently infect the global economy," said Mark O'Byrne,
executive director at Gold and Silver Investments Limited,
in a research note.
"While gold has become overbought in the short term, its
medium and long term fundamentals are as sound as ever," he
said...
Dan
Gold is frothy now. You can not avoid gold commercials 24x7.