Russia Looks To Diversify Reserves Into CAD |
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| News - Business | |||
| Thursday, 26 November 2009 13:29 | |||
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- Peter Rosenstreich, Chief Market Analyst Gold Still Not A Bubble “We have seen massive buying interest for gold since the IMF announcement of India’s purchase, and even as we’ve cleared $1180 levels, speculation is rife that more central banks will follow suit, driving up demand. The unrelenting momentum of gold’s rally has surprised many people, re-igniting chatter about the possibility of a bubble or blow-out reversal. But while the 25% rise in the past 3 months is still impressive, compared to previous commodity market bubbles, the pace and scale of the move is far from extraordinary. If we look back at the oil rally in 2008; prices rose over 35% in the 3 months leading up to the peak, and in the soy bean rally of 1973 contracts traded 98% higher in the three months before the crash. In our view, gold has room to go even higher before it approaches ‘bubble’ status.” - Elizabeth Gregory, Market Strategist Add this page to your favorite Social Bookmarking websites          
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