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.
More Quotes from Jon Nadler:
Gold is as much a mirror of current human events as it is a barometer of future asset values.Jon Nadler
Gold burst decisively through the 560 mark...even as many participants are out for the U.S. holiday.
Jon Nadler
We stand by the assertion that a quarter percent better fed funds rate will NOT make the critical difference to medium-term andor long-term gold investors.
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
Gold appears to be reflecting the lack of fresh bad news ... rather than true profit-taking.
Jon Nadler
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