Democratic Underground - It does seem that Gold has been freed to an open market.

Reply #16: It does seem that Gold has been freed to an open market. [View All]

54anickel

(1000+ posts) Send PM | Profile | Ignore

Tue Jan-06-04 10:02 AM
Response to Reply #2

16. It does seem that Gold has been freed to an open market.

Not sure if it will last, and it seems to have confounded some of the "experts". Found this little tidbit in the middle of this article.

Gold extended last year's 20 percent gain as all precious metals prices surged. At the COMEX division of the New York Mercantile Exchange, February gold rose to $425.70 an ounce, its highest since 1988. By the close, February gold had retraced some of those stellar gains, but the benchmark contract still ended up $8.70, or 2.1 percent, at $424.80 an ounce.
"The dollar is there (as a factor) but at some point, it kind of was on its own," a floor broker said.

http://www.reuters.com/newsArticle.jhtml?type=usGoldRpt&storyID=4076541&pageNumber=1

I could just envision this broker as he/she is making that statement, grabbing the sides of his head with both hands and saying, "I'm soooo confused". :evilgrin:

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Got a message for Democratic Underground? Click here to send us a message.

Reply #16: It does seem that Gold has been freed to an open market. [View All]