Gold Price $666/oz. And Rising
Source: Seeking Alpha (6/1/07)
Oil down, gold up - and still the mass of investors, led by Wall Street, can't figure out what's driving this six-year bull market in bullion.
Thursday's 1.5% bounce in the gold price "was driven by the exchange rate," reckons Michael Widmer, head of metals research at Calyon.
"The renewed weakness in the Dollar could encourage some buying of gold overseas," adds Stephen Platt, an analyst at Archer Financial Services in Chicago...And for US investors wanting to buy gold today? Gold bullion just completed its fourth-best month on record.