SAN FRANCISCO (MarketWatch) - Gold climbed future by more than $ 15 year ounce Thursday morning to trade in record territoire have Weakness in the U.S. dollar, Ongoing instability in the Middle East and eurozone debt Concerns Investors Attracted To The precious metal.
"Given The unrest in the [Middle East North Africa] region, Increasing debt from Facing the eurozone and the Environment of Historically low interest rates, gold and silver" should continue to Remain underpinned and test recent highs as investors Towards continues to diversify, "analysts Said at TheBullionDesk.com in a note to clients.
Oil Back Above $ 105 per barrelWSJ's Paul Vigna deferrals Markets Will Likely react to The Weekly jobles Clain postponement, oil's spike Above $ 105 per barrel, Portugal's deficit coming in higher than expected and Expected USDA crop year deferral.
Gold for May delivery climbed $ 15.70, or 1.1%, to $ 1,440.60 a year the Comex division one ounce of the New York Mercantile Exchange. The Futures are up more than 1% year to date and Poised for a gain of around 1.9% from Feb. 28.
Gold trading near future Were Their all-time highs. Prices HAD Tapped year intraday record high of $ 1,448.60 on March 24 after marking a record closing price of $ 1.438 on March 23.
Added May silver 31.9 cents to $ 37 personal humidifier.83 a year ounce.
"Inflation expectations are adequate to justify Enough right now has fed funds hike Later this year - and if this heats up Momentum With Enough, Then It Could Happen Earlier Than November," Said Richard Hastings, a macro strategist at Global Hunter Securities.
"If the U.S. dollar to rally facts are this development, we are looking Then at a big support to gold spot prices and break-through could" Into the $ 1.475 Quickly Rather area, "he said.
"It all depends On The Reaction Of The U.S. Fed to police," he said. "If inflation trends cranks out any thesis and the Fed policy stalls there, Then Will Intensify Inflation and gold and silver Will Rally With significant power."
At last check, The Dollar Index, Which Measures Against the U.S. unit of a basketball major currencies, to 75,904 from 76,091 Fell in late North American trading Wednesday. See Thursday's column currencies.
The latest economic data Thursday showed orders for U.S. That new factory-manufactured goods Fell by 0.1% in February & the Chicago PMI Slightly decelerated to a reading of 70.6% in March.
Expect more volatility going forward
Intrinsic Value
Posted by: InterinsicValue | 04/01/2011 at 03:06 AM