December 3, 2010

Gold Rally Seems To Have Consolidated Around 1,350. Next Wave Ahead.

Gold broke the $1,400/oz milestone just about two months after breaking $1,300, capping a spectacular rally that began in July. There has not been an issue of the Gold Report so far in which I haven't been able to report gold breaking a new nominal record.

The rally seems to have consolidated around $1,350 for the time being, which is a healthy development and a chance to get in before the next wave of Bernanke bucks make their way through the markets.


Related stocks and ETFs: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), Newmont Mining Corporation (NYSE:NEM), AngloGold Ashanti Limited (ADR) (NYSE:AU), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD), Barrick Gold Corporation (USA) (NYSE:ABX), NovaGold Resources Inc. (USA) (AMEX:NG)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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