Gold has reached a new high crossing the formidable 1602 mark. It has been hovering around this figure on the back of European debt concerns reaching a record high of $1575.79 an ounce back in May as Portugal and Ireland were on the brink collapse with remarkable debt levels.
At the height of the crisis back in 2008 Gold weakened to the $900 range; Citi Bank analysts were speculating that gold could reach $2000 by the latter end of 2009. With gold hitting 1600 we’re not far off from Goldman Sachs viewpoint that the safe haven could reach $1690 by summer 2011.
Wednesday, 20 July 2011
Sunday, 22 May 2011
NFA hits back
NFA now is looking to target the real players, State street has been investigated on erroneous pricing.
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