US1500 an ounce within days wow gold ideal py

US1500 an ounce within daysThe commodity came within a whisker of the psychological barrier on Monday night wow gold kopen, rocketing to a record $US1497.90 an ounce as a shock downgrade of the United States' credit outlook by Standard Poor's sent investors scuttling to the precious metal.The price eased slightly yesterday, trading just above $US1493 last night, but some traders predict it will break through $US1500 within days."The market is digesting a modest amount of sales as gold approaches the psychologically important $US1500 mark," Seoul-based trader Hwang Il Doo of KEB Futures told Bloomberg."The bullish picture for gold hasn't changed and gold will break through that level this week."National Australia Bank minerals and energy economist Ben Westmore said the downward trend in the US greenback in the past six months had been "very supportive" of gold prices."Our traders are relatively bullish in the short-term on gold, especially while there are these concerns around not just Europe but now the US coming into it Acheter Des PO," he said."There's this litany of events like the Middle Eastern conflicts - and just the memory of the financial crisis means that wow po. investors' attitudes to gold have changed quite markedly. With any sort of negative shock you see a flocking into gold."As well as its "safe-haven" appeal, gold was viewed by investors as a way to hedge against inflation amid rising commodity prices and signs that inflation expectations in some advanced economies were starting to build, Mr Westmore said.While S surprise downgrade of the US sovereign debt outlook to "negative" was good news for gold wow gold ideal, it sent global markets reeling wow gold po, with Australian shares diving 1.4 per cent yesterday.
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