GREY:SGGDF - Post by User
Post by
xyz_trader1on Jan 10, 2008 4:37pm
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Post# 14183653
GOLD
GOLDJohn Embry (Sprott) on BNN yesterday says if gold reaches $1000 a lot of investors will be jumping on the junior gold bandwagon again.
UPDATE: Spot Gold At New Record High On US Rate Cut Talk
Thu, Jan 10 2008, 18:51 GMT
https://www.djnewswires.com/eu
UPDATE: Spot Gold At New Record High On US Rate Cut Talk
(Adds analyst, trader comments.)
LONDON (Dow Jones)--Spot gold hit a new record high Thursday as talk of further interest rate cuts in the U.S. sparked a flurry of buying and pushed the metal even closer to its next big target of $900 a troy ounce.
As of 1830 GMT spot gold had hit an all-time high of $895.50/oz, breaking above Wednesday's record high of $891.50/oz, following comments by U.S. Federal Reserve chairman Ben Bernanke, traders said.
Bernanke said Thursday that more rate cuts "may well be necessary" as downside risks to the economy "have become more pronounced."