Although gold remains vulnerable to at least another bout of selling as we head into next week, the fact that it erased Thursday's losses demonstrates (for the time being) the fact that this bull is alive and kicking.
More Quotes from 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
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
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
Gold closed out the week on a firmer yet inconclusive note as traders squared logbooks ahead of the weekend.
Jon Nadler
A global scramble for the asset is now unfolding, as the fund-driven price action is snowballing and attracting investors from all walks of life.
Jon Nadler
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.
Jon Nadler
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