Gold Powers to a Record $1,383 per Ounce

Filed under: Commodities , Oil , Agriculture , Federal Reserve The gold market exploded Thursday with the December contract up $45.50 to $1,383.10 per ounce, as reported in the Wall Street Journal . As usual, there are lots of reasons for the spectacular rise. The two main ones are currency worries and inflation. Let’s take the currency issue first. The December U.S. dollar contract is hovering just above the 75 level. That level held and the dollar then rose to 89.11. Now it has come back down to the 75 level. A breach of 75 would signal a further move down. Continue reading Gold Powers to a Record $1,383 per Ounce Gold Powers to a Record $1,383 per Ounce originally appeared on BloggingStocks on Fri, 05 Nov 2010 10:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Gold Powers to a Record $1,383 per Ounce

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