Gold reached new highs as the dollar continued its decline. Comments from various FED chiefs sent the greenback even lower, continuing to see new lows. Coupled with dollar weakness, the BBC website reported that Iran have started five days of large scale war games aimed at defending their nuclear sites.
Gold & Silver
- The Central Bank of Russia announced today that their reserves totaled 19.5mn troy ounces, up 18.9% since the beginning of the year. The value of their holdings is $20.41bn
- Barclays Capital estimate that circa$55bn has entered in to the commodity sector, exceeding the $51bn in 2006
Major Economic News
Existing Home Sales