Gold Hits Fresh Record vs. Geithner strong dollar

Gold Hits Fresh Record vs. Geithner's "Strong Dollar" as S.African Mining Struggles - Buy Gold Online with the Bullion Vault - GoldSeek.com

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THE PRICE OF GOLD in US Dollars retreated from a fresh 0.7% surge early in London on Thursday, falling back from a new all-time record of $1123 an ounce as Asian stock markets closed the day lower.

Crude oil fell below $79 per barrel – higher by more than 75% from this time last year – while government bond prices rose.

The US Dollar bounced 1% from Wednesday's near-15 month low to the Euro.

Gold priced in both Euros and Sterling rose to fresh 8-month highs, hitting €748 and £677 an ounce respectively.

"Gold is way overbought short term," says Phil Smith at Reuters Technical India, but looking at trading volumes in the US Comex futures market, "the interesting thing to note it the big jump in volume that is powering this latest rally."

Thursday's new record gold price was the sixth in eight trading sessions vs. the Dollar.

Which country has the most gold?

Which country has the most gold? South Africa produced the most gold but United States bank the most Gold. Why is that? China and India is buying as much gold as they can find. While Russia geologist has just discovered a huge deposit of gold . On the list of the top ten countries, the IMF, which is not a country but is the owner of the third largest monetary Gold reserve.
1.USA
2.Germany
3.IMF
4.Italy
5.France
6.SPDR
7.China
8.Switzerland
9 Japan
10.Netherlands

US Dollar is weak but gold is great

US Dollar is weak but gold is great. We predicted the rise of gold to 1200 so did everybody else. That was easy to see coming more than a year ago now the next move is $1500 or above. Of course some investors have been dead set on gold hitting $1500 real soon.

We think that gold will climb some more but could see a few people taking profit to lock in their profit. If gold does retreat to any lower level we will see even more massive buying.

Well we are close to our TARGET OF $1200 GOLD. However,So many other things are falling apart, the housing market is very weak, even hotels are facing foreclosures. Car factories are slow,parts for cars is just as weak. Consumers are buying some electronics goods such as computers .

However is gold up.

Gold price

Gold price, can you say $1200 . In fact some is calling now for gold $1500. Based on the current economic climate gold prices should hit the $1200 target possible with in the next few months. Of course we have been saying that for a while but it seem closer this time around. Gold hit the $1094 with aggressive purchasing by investors today. This will not subside anytime soon. Countries around the world will start to buy gold even more aggressively as the demand pick up (China). One of the other reason why gold has moved higher simple there are no other investments that is as attractive has gold right now. US bonds has played out and the oil play is not stable with too many people influencing the price.