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Gold Watch: Futures come within $3 of the record
Posted on January 03, 2008
Gold for February delivery rose $9.10 to end at $869.10 an ounce on the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $872. The record high for Nymex gold futures was $875, set on Jan. 21, 1980. MarketWatch reports: Gold futures surged to a new 28-year high on Thursday, as a slide in the U.S. dollar boosted demand for the precious metal. Pure momentum, shorts scrambling to cover and the realization that gold is only in the fourth or fifth inning of a secular bull market are fueling today's gains, said Peter Grandich, editor of the Grandich Letter. A near term ...
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