Goldfutures climbed $44.50, up 5.9% to $790.00 an ounce on the Comex division of the New York Mercantile Exchange Friday.
The metal is heading for its biggest weekly gain since September, says MarketWatch, prompting a flurry of posts on the subject on the Stockhouse Bullboards.
For example, on the Horizons BetaPro S&P TSX Global Gold Bull Plus ETF (TSX. T.HGU, Stock Forum) Bullboard, stockguy0 commented: “This is it. Oversold and down. Elliot Wave says new bull waves to begin. USD falling. Money being printed like no tomorrow. Inflation will rear its head. Possible COMEX default coming in December. Need I go on? If you dont want to own gold now, you probably never will[sic].”
On the other hand, on the Horizons BetaPro S&P TSX Global Gold Bear Plus ETF(TSX: T.HGD, Stock Forum)Bullboard, specboy added: “bullion is wayyyyyyyy too strong today, to even consider a short position[sic]”.
“Well lets just hope that this bullish move in Gold does send gold stocks higher because the last peak $1000 POG crushed junior explorers. I want to be excited it's hard these days, especially when we don't even know how Gold we're producing ![sic]” said NineLives on the New Island Resources (TSX: V.NIS, Stock Forum) board.
Finally, on the High River Gold Mines (TSX: T.HRG, Stock Forum board grover11 noted: “Gold is about to punch through 800. It's up 45 bucks so far... Has the gold rush arrived???/[sic]”