Another bubble brewing: Gold hits new high
Uncategorized November 8th, 2007
Marketwatch reports
NEW YORK (MarketWatch) — Gold futures surged to finish at a record closing high of $837.50 an ounce on Thursday, topping the previous session’s record by $4.
The yellow metal was boosted by the dollar’s fall against major rivals after Federal Reserve Chairman Ben Bernanke said that the weaker dollar is a key inflation risk.
Gold for December delivery finished up $4 at $837.50 an ounce on the New York Mercantile Exchange.
The previous record close was $833.50, set on Wednesday. The all-time high for a gold contract is still $875, set on Jan. 21, 1980.
November 8th, 2007 at 5:03 pm
Well, what do you expect? If the Fed keeps lowering rates, you can see the gold hit 1000 easily