Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: TheSlowLane who wrote (11718)	11/22/2009 9:19:29 PM
From: Wade	Read Replies (1) of 48092

bloomberg.com Gold Rallies to Record in Asia on Bets Dollar to Weaken Further By Glenys Sim and Sungwoo Park Nov. 23 (Bloomberg) -- Gold jumped to a record in Asia, its sixth gain to all-time high in two weeks, on speculation more investors will buy bullion as an alternative to the dollar. Gold futures in New York climbed for a seventh straight day as the most accurate dollar forecasters predict record low borrowing costs, rising unemployment and the ballooning U.S. trade deficit will weigh on the currency. Spot gold has risen 32 percent this year as the Dollar Index, a gauge of the greenback’s value against six major currencies including the euro and yen, tumbled 7.2 percent. “Sentiment is very upbeat and gold is looking increasingly attractive,” Stefan Graber, Singapore-based analyst at Credit Suisse Group, said by phone today. “I think investor interest has spilled over from those seeking a hedge against the dollar to other buying interests as well, such as central bank buying.” ..more

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