Gold Above $900 Again
January 24, 2008
Gold Tops $900 Barrier Again
Gold cracked that resistant $900 barrier again this morning, rising to $905 as I write this posting. This comes after a short but deep correction which drove the precious metal back to $865 within the last week.
These wild swings are distressing, though confidence in the investment quarter remains very strong. The Federal Reserves lowering of interest rates was the spark for this current drive. The U.S. dollar showed some strength before the Fed move, but afterward has again slipped against the Euro, making gold, silver and platinum all interesting propositions for those seeking cover from the storm.
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