Forget Black Friday. How About Gold Friday?

Author:
Publish date:

Looks like that Peter Brimelow column we linked to this morning was dead on. Gold up. Dollar down.
And with that, the DealBreakers are just about DFD. Write-offs up next.

Gold prices climbed 1.4 percent on Friday on a weaker dollar, with the absence of U.S. players making the market choppy, dealers said.
Platinum also gained, but traded well below this week's record high of $1,395 an ounce on talk of an exchange traded fund (ETF). Other precious metals followed gold's upward move.
"The market is trying to get up to $640 an ounce at some point, but there are some sell orders around there," said a precious metals trader in London.
"The dollar is weak at the moment. The market is fairly thin so it didn't take a huge amount to move it up," he added.
Spot gold was quoted at $639.30/640.30 an ounce by 1453 GMT, up from $630.30/631.30 late in London on Thursday.


Gold moves higher as weaker dollar spurs buying
[Reuters]

Related