Gold rose to a one-week high in New York and London as the dollar declined against the currencies of major trading partners. Platinum and silver also climbed.
Gold jumped 1.8 percent yesterday as the dollar fell to a four-week low against the euro. Some investors have bought gold betting on “negative data” about U.S. banks in a report from the Federal Reserve scheduled in two days, said Manqoba Madinane at Standard Bank Group Ltd. in Johannesburg. The dollar index has slid 0.9 percent this week.
“The euro/dollar is the main factor at the moment,” Madinane said by phone. “The market has already priced in negative data.”
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June gold futures climbed $7.80, or 0.9 percent, to $910 an ounce by 10:17 a.m. on the Comex division of the New York Mercantile Exchange. The metal earlier rose to $916.70, the highest since April 27. Gold for immediate delivery in London rose as much as 1.6 percent to $916.09 an ounce.
Gains in the metal accelerated after prices rose above a trend line starting from Feb. 20, triggering buying by traders who follow charts and graphs, said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt. The metal may climb to $925 on the technical buying as early as this week, he said.
May 5th, 2009 at 12:35 pm
gold, guns, ammo, farmland and forest
May 5th, 2009 at 12:56 pm
off topic
I just called Pittsburgh post gazzette, the lady got SOOOO pissed! I was calm and polite. She started going off so i said “thankyou” “I appreciate your time”.
May 5th, 2009 at 1:13 pm
Water (with a Berkey filtration system and a good rain collection system), food stocks and some farmland, firearms (and lots of ammo!), and gold & silver (gold for the big barter deals, silver for the day-to-day stuff). Also, a couple of good dogs as an intruder alarm. Just for fun I have measured off and marked the 100 meter, 200 meter, 300 meter, and 400 meter marks from our house. This makes it easier to guage sighting with the AR-15s (set for 200 meters, BSZ).
Cheers!
push back Reply:
May 5th, 2009 at 4:26 pm
sweeeeet….
May 5th, 2009 at 8:26 pm
FIGHT BACK/ SEND IN DONATIONS TO INFO WARS !!!
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