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Most of Investing Public Missing Out on Gold Bull Market

Commodities / Gold & Silver 2009 Nov 18, 2009 - 06:12 AM GMT

By: GoldCore

Commodities

Gold reached a new record nominal high again this morning at $1,148/oz and is currently trading at $1,146/oz. In EUR and GBP terms gold has risen to €767/oz and £680/oz respectively.


Gold continues to climb a wall of worry with many analysts bearish and much of the public remaining on the sidelines due to misplaced fears that gold is another asset bubble. These fears are understandable given investors' painful experience of the bursting of the real estate and equity bubbles, but the fears are misplaced and come about due to a fundamental lack of knowledge of the still very strong supply and demand factors driving the gold (and silver) market.

The dollar is due a short term rally but any bounce is likely to be short term in nature as the Federal Reserve remains in a 'catch 22' needing to raise interest rates to contain inflation in the medium and long term, and protect the dollar, but realizing that an increase in interest rates will likely snuff out the tentative economic recovery.

Silver
Silver has continued its strong recent run and touched $18.70/oz. Silver is currently trading at $18.62/oz, €12.43/oz and £11.07/oz.

Platinum Group Metals
Platinum is trading at $1,452/oz and rhodium at $2,475/oz. Palladium is currently trading at $376/oz.

The Bullion Services Team

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W www.goldcore.com

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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