Is Gold Ready to Break New Cycle Highs?

Source: SeekingAlpha.com  (9/12/07)

Canaccord Adams analysts Graeme Currie, Wendell Zerb and Toni Wallis argue that the upward trend could continue: "We are behind the view that gold bars are in a strong fundamental position to break new cycle highs," they wrote in their "Junior Mining Weekly" research note.


For the most part, spot gold has traded in a very narrow range of about US$640 to US$685 an ounce since March. But with the recent weakness in the U.S. dollar, gold has broken out. Canaccord Adams analysts Graeme Currie, Wendell Zerb and Toni Wallis argue that the upward trend could continue.

As they put it, they're placing themselves behind bars - gold bars.

"We are behind the view that gold bars are in a strong fundamental position to break new cycle highs," they wrote in their "Junior Mining Weekly" research note.

Related Articles

The Gold Report The Gold Report