Wednesday, February 17, 2010
There have been a number of close calls in the last few hours, but today could be another one one of those relatively rare occurrences where there are no crossings on the Kitco three-day gold chart - it's got to get back up above the $1,120 an ounce mark to make that happen.
There's been lots of interesting gold news this week now that the euro is, for the time being at least, out of the FOREX dog house. A couple days ago, the gold price reached a new all-time high when measured in euros and there have been some odd U.S. dollar-gold movements, including earlier today when both the dollar and gold moved up together.
Also, according to recently released SEC filings, gold bullion remains the number one holding at John Paulson's hedge fund, still totaling over $3 billion, and George Soros was a big buyer of the metal late last year, doubling his holdings to about $663 million.