Gold closed out the month of May on a bearish note as investors saw a possible solution to Greece’s sovereign debt woes ending the need for safe-havens. COMEX August futures ended down 50 cents an ounce to $1,536.80 on May 31, 2011. However, the market closed sharply higher before the Memorial Day holiday break, and [...]
Our Senior Market Strategist Phil Streible said there is “no doubt” gold will move up to its previous high of $1,434 hit in December, but if tensions in the Middle East ease and/or U.S. economic reports cause the dollar to rally, gold could sell off in the short-term as investors move to other assets. Hear [...]
by Richard Ilczyszyn Gold has traditionally served as an inflation hedge, but in recent days, gold has become a hybrid asset, with many reasons for investors to own it. It has also historically had an inverse relationship with the U.S. dollar, but wise traders today are watching the stock market, and the euro, for directional [...]
