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Investors finally realize the Emperor (or Empress) has no clothes: April 2016 Gold futures contract soars more than $50/ounce to $1247
Posted By: NaturalWisdom
Date: Thursday, 11-Feb-2016 13:35:27
www.rumormill.news/39849
'Everything Under The Sun' Prompts Safe-Haven Buying Of Gold; Traders See More Gains
Kitco
Feb 11, 2016
http://bit.ly/1QYwy7n
[snip]
(Kitco News) - Gold futures have hit their highest level in a year as they draw safe-haven buying, basically getting support from “everything under the sun” amid another round of risk aversion.
Some observers see potential for the metal to rise to the next big round number of $1,300 an ounce.
As of 10:53 a.m. EST Thursday, the Comex April contract was $53 higher at $1,247.60 an ounce. Gold peaked at $1,249.
When asked what’s providing the fuel for soaring prices, Afshin Nabavi, head of trading with MKS (Switzerland) SA, responded with “everything under the sun.”
He then went on to cite weaker oil prices, global equities undergoing another rout and a plunging U.S. dollar. He suspects continued buying is occurring for gold-backed exchange-traded funds.
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Articles In This Thread
- Investors finally realize the Emperor (or Empress) has no clothes: April 2016 Gold futures contract soars more than $50/ounce to $1247
NaturalWisdom -- Thursday, 11-Feb-2016 13:35:27
- Peter Schiff: Gold Price is Going to Skyrocket - Going to Smell Blood [VIDEO]
NaturalWisdom -- Thursday, 11-Feb-2016 13:40:26
- Who else besides George Ure sees that we're in a perfect setup for a precious metals squeeze?
NaturalWisdom -- Thursday, 11-Feb-2016 14:15:48
- UK bullion dealers report record sales as buyers "queue round the block" to purchase the precious metal
NaturalWisdom -- Thursday, 11-Feb-2016 14:25:02
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