The Gold Report
Gold rallied to its highest level in nearly three decades on Monday as speculative buying gained pace after crude oil struck a record high on tensions in the Middle East and the U.S. dollar tumbled to an all-time low.
Not to be outdone, platinum touched a record high before slipping, silver rallied to its best level in eight months and palladium hit a two-week high. Physical trade came to a standstill as jewellery makers watched gold prices gyrate...
"I think the market will aim for $800," said Darren Heathcote of Investec Australia in Sydney. "I suspect there will be some selling pressure just before, should we get that high. But certainly, the fundamental reasons are still holding good that oil prices are high and there's geopolitical concern and the dollar is weak," he said.
Notable Quotes
"GRG has an exciting high-grade silver discovery and just released an NI-43-101-compliant resource estimate with 105 Moz Ag eq." (5/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Thibaut Lepouttre More >
"THO's Escobal remains on budget and on schedule; its progress is encouraging." (5/10/13) Tahoe Resources Inc. - Chris Thompson, Raymond James More >
"We reiterate our Outperform rating on P and it remains one of our top picks." (5/10/13) Primero Mining Corp. - Shawn Campbell, Macquarie Capital Markets More >
"DGC is attractively priced and should outperform its peers." (5/10/13) Detour Gold Corp. - Brad Humphrey, Raymond James More >
"Lead, zinc and gold factor heavily into the economics for MAG's Juanicipio silver project." (5/14/13) MAG Silver Corp. - The Metals Report Interview with Brent Cook More >
Eastern Markets Bring Gold Even Nearer $800
Source: Reuters (10/29/07)
"I think the market will aim for $800," said Darren Heathcote of Investec Australia in Sydney. "I suspect there will be some selling pressure just before, should we get that high. But certainly, the fundamental reasons are still holding good that oil prices are high and there's geopolitical concern and the dollar is weak," he said.
More Experts
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