Gold breaking USD $600 and retreat
This morning in Asian time it has been an exciting time seeing Spot Gold breaking USD $600 and making a 25 years record high $603.
Unfortunately, it fails to keep the momentum and falls back following the drop of US market. Now the price goes back $596.
During the time 2005-2006 March, the top 5 commodity increase has been:
1) Sugar (110%)
2) Bronze (75%)
3) Platinum (70%)
4) Orange juice (55%)
5) Gold (40%)
Rise of Gold is not huge this recent year. The king is sugar, as it is the raw material for making oil supplement. As oil price rises to near $70 again, people tends to find cheaper alternatives to replace oil. The uptrend of sugar is expected to continue and the rise will be big !
Unfortunately, it fails to keep the momentum and falls back following the drop of US market. Now the price goes back $596.
During the time 2005-2006 March, the top 5 commodity increase has been:
1) Sugar (110%)
2) Bronze (75%)
3) Platinum (70%)
4) Orange juice (55%)
5) Gold (40%)
Rise of Gold is not huge this recent year. The king is sugar, as it is the raw material for making oil supplement. As oil price rises to near $70 again, people tends to find cheaper alternatives to replace oil. The uptrend of sugar is expected to continue and the rise will be big !
posted by SSY | 9:15 AM
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