DOW drops, dollar weak, Gold uptrend continues
Gold surge continues today, but fails to test $730 and now retreats $13 to $717.
In the long term the uptrend will continue. However, a short term correction is likely to happen when dollar rebounds after currency settlement by the end of this week.
Some facts about Gold:
- According to WGC (world gold council), in 2005 Q4, demand for Gold has risen to record high of USD $536B.
- During this period, Gold Investment has increased by 26%
- Gold and silver EFTs initiate more investors to take part in it.
- Traditional funds used to include very few gold or commodities in their constituent. They are now getting more involved into buying them as part of the fund constituent.
- Central government are actively increasing their Gold inventory, including China and Japan.
In the long term the uptrend will continue. However, a short term correction is likely to happen when dollar rebounds after currency settlement by the end of this week.
Some facts about Gold:
- According to WGC (world gold council), in 2005 Q4, demand for Gold has risen to record high of USD $536B.
- During this period, Gold Investment has increased by 26%
- Gold and silver EFTs initiate more investors to take part in it.
- Traditional funds used to include very few gold or commodities in their constituent. They are now getting more involved into buying them as part of the fund constituent.
- Central government are actively increasing their Gold inventory, including China and Japan.
posted by SSY | 7:09 AM
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