RE:RE:RE:RE:85$can is coming soon"The gold market is always looking forward to that next big number."
Not the part that makes any difference. I have trouble fancying an Asian all excited about buying gold because it made some numerical milestone in a foreign currency. I will agree that the industry’s media gets all excited as it gives them something different to talk about.
Personally, I’ve seen steeper and higher Walls of Worry after retail speculators begin to show up. The higher demand we are seeing now is the direct result of capital fleeing EM markets over the last few months and deploying into safer assets. Central banks have anticipated the fall in local currency from investors buying dollars, and attempted to offset losses by themselves buying appreciating gold.
BTW - Were you around in the Wheaton River daze?
b.