Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (63799)	4/11/2006 11:00:15 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 361894

Gold tops $600; highest since December 1980 Tue Apr 11, 2006 1:51 AM BST SINGAPORE (Reuters) - Gold spiked to $600.40 an ounce on Tuesday, its highest since December 1980, as funds bought on worries about inflation, tension in the Middle East and uncertainties over the dollar's outlook. "We're there mate, we've done it," said Darren Heathcote, head of trading at N M Rothschild in Sydney. Spot gold <XAU=> was later quoted at $598.50/599.50 an ounce by 0043 GMT, little changed from $598.80/599.60 an ounce late in New York on Monday. "The signals are still strong, people are still happy to buy in dips. Whilst we're below $600, the range is probably somewhere around $597.50 and $600. But if we break above $600, we're probably looking to test that $604.50 area," Heathcote said. Investors have turned to surging commodities markets for investment alternatives to equities, bonds and foreign exchange, where returns have not been as good, said dealers. Tensions in the Middle East, uncertainty about the dollar's outlook, worries about rising energy costs and speculation that central banks will diversify into metals have also boosted gold's appeal, they said. Silver <XAG=> tracked gold's gains and rose to another 23-year high of $12.90 an ounce before retreating to $12.79/12.83 an ounce, higher than $12.68/12.71 late in New York. Platinum <XPT=> was steady at $1,087/1,092 an ounce. Sister metal palladium <XPD=> rose to $357/362 an ounce from $354/360 late in New York. today.reuters.co.uk