Gold hits 5-wk high, trade deficit hits $60 bln -
July 12 --
[fiatz$666.10/oz and Au for 888 times -
stamp-milling out 666?] - when done -
Au gone fly -
Gold futures rose more than $6 an ounce Thursday,
to close at their highest level in five weeks,
as the dollar touched new lows against the euro
and the British pound and as oil prices remained high.
These factors combined to underpin investment demand
for the precious metal.
"The breakdown of the dollar is bringing investors
into the market," said Julian Phillips, an analyst.
"Both the gold price and the dollar breaking down through
long-term support is bringing professionals to adjust
their positions as well as short-term traders to
take advantage of the break through $665," he said.
Overall, the "change in the market mood after such a long
consolidation is more than noticeable.
We expect a lively market going forward," he said.
"Investors remained concerned at the vulnerability of
the U.S. dollar here," said Peter Spina, an analyst.
"From a technical perspective, the Dollar Index
is teetering at massive support," he said.
"Should there be a failure of support, the selling
is likely to accelerate and investors will flock to
precious metals."
The nation's trade deficit reached $60 billion in May,
on record trade flows across U.S. borders to meet rising
demand at home and abroad, the Commerce Department
reported.
Northgate Minerals Corp. NXG Last: 3.25
Change: +0.10(+3.17%)
Volume: 2.19 m
Last Trade: 3:59
DL 7/12/2007 10:49 PM
$6 price target for NGX -
Northgate Minerals Corp. (NGX : TSX)
Estimates upped on new gold & copper prices
Blackmont Capital maintains "buy",
12-month target price is raised to $6.00 -
Imo. Tia.
God Bless
investorshub.com
investorshub.com
siliconinvestor.com
investorshub.com
Ps.
Its aproblem with fiatz we know -
we don't no know when all fiatz will be hit? -
but when it start -
EX.
With inflation at officially more than 3,700%
(some economists put it as high as 9,000%),
supermarkets are unwilling to comply,
so a price-control unit has been trying -
to enforce it -
news.bbc.co.uk |
