It will take either a sharp sequence of rate increases ... or a significant reversal of rate hikes ... to move the gold market in a meaningful way at this point.
More Quotes from Jon Nadler:
There is that tug-of-war between would-be buyers and the traders who really are squaring the trading logs before we head into the weekend.Jon Nadler
A number of respectable institutions raised their current year and 2007 forecasts for gold and more of them are no longer afraid of mentioning the word 'record' when it comes to future gold prices.
Jon Nadler
The unfolding petro-nuclear Iran debacle laced with faith-based overtones is making the average investor quite nervous these days.
Jon Nadler
None of this probing to the downside will negate the fundamental nervousness the market continues to experience, and the hair-trigger volatility will continue to be an integral feature of the metals complex as news keeps coming at it.
Jon Nadler
Buoyed by the Nigerian oil sabotage news and a weaker U.S. dollar, gold has reasserted its safe-haven attributes since last Friday.
Jon Nadler
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