Gold Climbs Toward $1,300 – WSJ.com

Gold Sep 22, 2010 No Comments

Spot gold continues to close in on $1,300 a troy ounce and some suggest it is on track for a rally as high as $1,500, as sustained weakening in the U.S. dollar plays into the hands of the bulls.

Gold prices are up around 36% in the past year. It has been one of the best-performing assets through the financial crisis because of its perceived “safe haven” status.

The current run, however, which helped the metal last week crack its former record of $1,265 an ounce—a high that had been in place since June—has been primarily on the back of currency moves, market players say.

via Gold Climbs Toward $1,300 – WSJ.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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