Gold is up to US$928 and looks like it might break through $930 this week. It’s already breaking out of the price range we were talking about just a couple of weeks ago.
As this story says – the end of last week saw the biggest surge in gold price futures in 16 months. This was due to heightened inflation concerns mixed with the Federal Reserve not hiking interest rates to tackle the problem.
And as this story says, inflation fears in the Untied States are running up against low prospects for growth – this puts the Fed in a bind and means the prospects for gold remain strong.
Happy prospecting.
