Gold Hits Psychological $1150/oz Level

18 November 2009 @ 12:56 pm EDT

Gold is continuing its incessant rise higher despite very limited participation from the Dollar. The EUR/USD and AUD/USD are both fluctuating between their respective uptrend and downtrend lines while the S&P futures hover around their highly psychological 1100 level. Gold has ignored its usual positive correlations since breaking through its psychological $1100/oz level and seems to have a mind of its own. Gold's aggressive bull movements without a sizable depreciation of the Dollar is a bit puzzling. Therefore, investors should question if/and when gold's correlations will lock back into place.

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