What’s happening with the gold price today?
First there was a dip in the NY morning trading from 920 USD/oz towards 907 USD/oz and then suddenly the price rocked skywards to 928 USD/oz.
Somebody is buying because he has a problem or because he wants it.
We heard this weekend a lot of stories.
The IMF would have to sell some gold. The Russians want a new gold standard.
In the mean time we observe that the Toronto Ventures Index, loaded with small goldmine producers is really making a come-back.
Even today is not especially a day to buy, after losing 75% of its value in five months, this index is poised for a rally.
First there was a dip in the NY morning trading from 920 USD/oz towards 907 USD/oz and then suddenly the price rocked skywards to 928 USD/oz.
Somebody is buying because he has a problem or because he wants it.
We heard this weekend a lot of stories.
The IMF would have to sell some gold. The Russians want a new gold standard.
In the mean time we observe that the Toronto Ventures Index, loaded with small goldmine producers is really making a come-back.
Even today is not especially a day to buy, after losing 75% of its value in five months, this index is poised for a rally.
But also elsewhere a break-out can be observed. The Market Vectors Gold Miners ETF (ticker: GDX) staged last week to break through its 200 moving average, while being on the verge of a new six-month high.
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