Gold at Six Month High

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The chart for gold looks very bullish. Interesting to see gold rise in the face of a strong dollar market. Investors are no longer fleeing to U.S. Treasuries as a safe haven but to gold instead. This is an important change in investor psychology and bodes well for a rise to record prices in the coming months (or weeks or days)-Lou

Gold ends at six-month high on safe-haven buying
Holdings in the largest gold ETF have leaped 8% in one month to record high

NEW YORK (MarketWatch) -- Gold futures rose Friday, ending the week at their highest level in six months as investors sought the safety of the metal following government data that showed the U.S. economy contracted the most in 27 years during the fourth quarter.

Rising demand for the metal has pushed holdings in the SPDR Gold Trust, the biggest exchange-traded fund backed by gold, to a new record level.
Gold for February delivery closed up $22.20, or 2.4%, at $927.30 an ounce on the Comex division of the New York Mercantile Exchange, the loftiest closing level for a front-month contract since July.

The benchmark contract has risen 3.5% this week and 4.9% this month.
"Demand remains very high internationally for ETFs, gold certificates and bullion coins and bars," said Mark O'Byrne, executive director at Gold and Silver Investments. We've seen "continuing safe haven demand for gold" due to "sharp deterioration in the global economy."

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