Gold will continue to be sought as a safe haven currency that maintains its purchasing against global currency debasement. The crossing of $1,300, while technically meaningless, has awakened new investors to the secular bull that started in 2000. The trend, despite endless misinformation and fear tactics, remains strong.
“The market is still very concerned about developments in the U.S. and Europe,” said Bernard Sin, head of currency and metal trading at bullion refiner MKS Finance SA in Geneva. “People are thinking that gold is one of the only assets to protect their wealth.”
Source:
finance.yahoo.com
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