Gold has broken through the USD$700 mark again. with more issues around the US dollar ( 15 year low against major currencies, an increased pressue on the US Federal reserve to drop interest rates , further weakening the US dollar) and a bullish feel coming back into the market further enhancing investment levels. Once again we appear to be seeing the downline fallout from Subprime lending and the forecast problems yet to hit.
With the upcoming Indian wedding season , we would expect to see the demand for physical Gold to increase dramatically ( as it does each year ) but especially as this year appears to have been a prosperous year for one of the largest consumers of gold.
Oil is again above US$76 which is also helping to bolster gold prices, with Gold historically increasing in price as the Oil price rises.
This should be a very busy week, and the expectation is for some solid gains in the Gold price going forward,
Ok, not too sure about you but this is beyond me - I look better with wrinkles :)
