ResourceInvestor.com is a free service to investors, financial professionals and other stakeholders who participate in the mining, drilling and piping sectors. It provides unique independent news, analysis, commentary and analytics on the sectors with the goal of empowering readers with information from which they can gain advantage or profit.
Visit Resource Investor - Blog
Gold Watch: Will the Fed raise rates?
Posted on May 07, 2008
Gold futures finished the day down $6.70 to close at $871 an ounce on the New York Mercantile Exchange. MarketWatch reports: U.S. dollar strength helped to push the precious metal s appeal as a hedge against inflation down. Gold traded back on the defensive after the dollar reasserted itself in the European morning, said analysts at Action Economics. As the dollar continued to show strength against the euro ... so gold drifted lower closer to support again, said Julian Phillips, an analyst at GoldForecaster.com. Bloomberg reports: The dollar gained on speculation that the Fed might raise...
Original article link
Subscribe to Resource Investor - Blog