Gold traded as high as $1,122, with investors continuing to buy in following the confirmation from the Fed that interest rates would remain low. Gold has now rallied 7% this month, and is up 26% this year. The question now is whether or not continued dollar weakness will see gold move further North, or will the potential for Interest Rates rising in 2010 hinder the move up, and bring in the sellers?
Gold & Silver
- APEC Meeting in Singapore will provide further news on the state of the global economy
- The SPDR Gold Trust, the largest physically backed ETF, reported that holdings increased by 6.1 tonnes, indicating further buying
Major Economic News
Initial Jobless Claims