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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO) -- Ignore unavailable to you. Want to Upgrade?

To: NYBob1 who wrote (126)	6/29/2007 5:10:11 AM
From: NYBob1	Read Replies (1) \| Respond to of 158

NY June 28, Gold futures closed with a nearly $6-an-ounce gain Thursday, with a weaker dollar and strong oil prices helping the market break a three-session losing streak that's driven prices lower by nearly 2%. Prices extended their gains into the electronic trading session late Thursday following a decision by the Federal Reserve to keep interest rates unchanged at 5.25%. The COMEX August gold contract gained $5.60 to close at $650.40. In electronic trading shortly after the Fed announcement, the contract moved a bit higher to stand at $651.20 an ounce. The contract closed at $644.80 on Wednesday, its lowest level since mid-January, after tallying a loss of $12.20 in three sessions. After regular trading for gold futures closed Thursday, the Federal Reserve chose to hold its target for the key federal funds interest rates steady at 5.25%. The Fed isn't convinced that core inflation has dropped back into its target range for good, the central bankster said at the end of its two-day meeting. "I don't think today's decision gave the market a clearer picture of what's happening," said Thomas Hartmann, an analyst at Altavest Worldwide Trading. "Key to this month's statement is that the Committee's predominant concern is that inflation will fail to moderate as previously expected," he said in e-mailed comments. "While higher inflation sometimes spurs the advance of the precious metals, the metals markets seem to be more concerned about economic growth. On that, the Fed sees continued moderate growth." Meanwhile, gold prices likely garnered some support from a rally in crude-oil futures, which climbed past $70 for the first time since September. Earlier Thursday, gold prices had climbed on "bargain hunting and physical buying after the sell-off earlier in the week," said analysts at Action Economics investorshub.com Second wave LT trend started - of the 5-wave Elliott pattern - NXG is undervalued - oversold - strategic bargain bottom fishing - btw. DEBKAfile’s military sources report Washington is considering deploying the fourth US carrier for the region in the Red Sea opposite Saudi Arabian western coast to secure the three US carriers in the Gulf from the rear as well as the Gulf of Aqaba and Suez Canal. investorshub.com What do you think about higher Gold - energy prices? Imo. Tia.