Posted on 04/09/2010 10:59:32 AM PDT by Cheap_Hessian
SAN FRANCISCO (MarketWatch) -- Gold futures found firmer footing Friday, touching a four-month high as a downgrade for Greece refreshed concerns about European debt and the global economic recovery.
Gold for June delivery, the most-active contract, rose $8.70 to $1,161.50 an ounce on the Comex division of the New York Mercantile Exchange. The contract earlier touched a four-month intraday high, trading at $1,166.20 an ounce, the highest intraday for that contract since Dec. 4.
For the week, gold was posting an impressive 3.1% gain. Gold for June delivery ended at $1,126.10 an ounce on April 1. Markets were closed April 2 for the Good Friday holiday.
(Excerpt) Read more at marketwatch.com ...
What? No bad mouthing gold for being a relic? And don’t forget silver is just as useless to many.
In times of lack of confidence in fiat, gold and silver are substitute currencies. Wonder how the founding fathers knew that?
While America struggles for economic leadership, which the world needs as well....the world has cast its vote on the competence and expectations of Obama policy.
The time for America to wake up is way overdue.
goldbug ping
Mail me to get on or off the Free Republic Goldbug Ping List.
Gold hits four-month high as recovery concerns resurface -- along with doubts about inflation and sovereign default.
Let's hope it's a question of "when" and not a question of "if".
Chances are high that the comment would turn out to be his ‘embarrassing blunder’ at the least.
All of the ten or eleven things in my “why gold is not in a bubble” list that I post from time to time are still true. The tungsten angle is getting a little play this past week but it’s still four or five levels away from something you’re going to read in the local paper.
He can take some comfort in that he was only about a week off the all time high print when he blurted that out. Cramer’s January 8 gold buyers are above water for the first time only today.
It seems that every conspiracy theory under the sun regarding supply is making its way to the front pages so this feels like a pump and dump to me. I hold, but am anxious.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.