...look at the percentage of reserves held by central banks in gold. It always has had an important role to play in their reserve asset management.
More Quotes from Simon Weeks:
The market has been sitting very long for some time and as such it expects to see some profit-taking.Simon Weeks
The dollar is not doing all that badly and the Dow Jones Industrial Average has been doing pretty well overall. It doesn't make a lot of sense to cut U. S. rates aggressively at this point.
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People are still having worries about the economy and inflation. They still feel they want to have gold.
Simon Weeks
Gold is starting to feel heavy again there aren't that many more buyers out there.
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