Gold is approaching the $675 mark....

[#1]

I have just checked gold on the Kitco web and its just sky rocketing. SIM has just recorded R88.5mil in volumes. Any internal buying?

[#2]

try 681....

[faure]

It's not just gold(+3.6%), silver (+3.9%), brent crude (+3.0), nickel (3.1%). Commodities as a whole seems to be really flying in the past few hours. Should be interesting to see what the resources sector does tomorrow, never mind the gold index.

[#4]

with such a run up we do need to see a retracement - possibly to the 673 mark (38.2% fib retracement) and also (coincidently) the most recent high (673.40)

[liquid]

C thanks for pointing out this key level at 38.2 % Fib, we're not far from that. Whats your take on the other indiocators for this chart?

[liquid]

Also -for the bright guys in the know - how often does gold, silver + bent oil "sink" like that? Does silver prices tend to follow gold? Can gold/silver be the early price indicator of the other? Anybody got any idea why fundamentally we saw the run yesterday in gold?

[john_1]

Some dudes wife caught him with his pants down, and to make it up to her he bought her some gold, ans silver. Moral of this story never wear pink.

[#8]

we can speculate all we like but no one will really know what caused the run...oil had a lot to do with it the US CPI has a lot to do with it but talking of pants down speed of the rally was most probly short covering...guys/gals that were short (because of the previous day's decline) having to buy contracts to limit their losses...