Buoyed by the Nigerian oil sabotage news and a weaker U.S. dollar, gold has reasserted its safe-haven attributes since last Friday.
More Quotes from Jon Nadler:
We saw little evidence yesterday that the Godzilla-size footprints of funds bailing out of gold was present. We did see evidence overnight that millions of tiny (individual-investor) footprints make for an equal-size impact on gold -- in the opposite direction.Jon Nadler
Gold is as much a mirror of current human events as it is a barometer of future asset values.
Jon Nadler
Traders were watching a sinking dollar and the apparent diversion of petro-dollar profits into bullion (a repeat of the pattern that was last visible in the gold run of 1980).
Jon Nadler
The huge pool of global liquidity out there has not found a better place to rush into, and is enchanted with gold and its prospects.
Jon Nadler
The trigger fingers hovering over all of the instability-sensitive commodity 'buy' buttons (gold, oil, etc.) are as jittery as ever.
Jon Nadler
The dollar took enough of a hit to convince traders that gold was a safer place to park funds in for the next few sessions.
Jon Nadler
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Based on Topics: Gold QuotesBased on Keywords: buoyed, reasserted, safe-haven
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