A Trading Range?
December 4, 2007
What looked to be a “correction” three weeks ago is seemingly turning out to be mroe of a “tranding range“. A season wherein gold is up, down, upo, down, and basivally going nowhere over a few weeks- or maybe until some “event” changes that. Gold was up $13 today to firmly get back over the $800 level. Currency fundamentals dominated sentiment as the dollar weakened versus the euro, making dollar-priced gold cheaper for non-U.S. investors. Analysts also noted gold had benefited from its safe-haven appeal as dips in stock markets and U.S. government bond yields attracted wider investment from buyers looking for shelter from problems in global credit markets.
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