Tuesday, August 2, 2011

Gold Hits New All-Time High, Nears $1650

Gold has vaulted nearly $20 today, and has just placed a brand new all-time nominal high at $1645.30, less than $5 from Jim Sinclair's famous $1650 call!
So much for the debt ceiling hike agreement putting a damper on the gold and silver market....are traders starting to think rationally?
We think more likely its a response to the weak economic data reported in the past week, which has traders realizing QE3 is inevitable, and right around the corner.

(Will close in 4 hrs. 5 mins.)
Metals Date Time
Bid Ask

Buy gold Gold Charts  GOLD 08/02/2011 13:11 1642.40 1643.40


Live 24 hours gold chart [Kitco Inc.]