Wednesday, September 17, 2008

A First for Gold!!!

Gold has had a 70 dollar range today so far! This might have been unthinkable a few years back but with the increase in volatility in the financial markets worldwide, we will have many more of these in the days ahead.

There are various theories floating around as to how this unexpected rise happened. Most analysts and traders were expecting Gold taking a dip below 700 and this was a very welcome surprise for goldbugs. That Jim Sinclair guy has really proved himself dumb this time! He has been predicting $50 and $100 up days since quite some time now. Cheers and wish everybody many more of those ahead!

Edit: Gold made a high of $865.5, so it has been an over $90 day!

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