GOLD rush among
Five days after Gold broke 1800, the precious metal smashed through the 1900 level with investors panicking into Gold as
the preferred safe haven. 1908 represents a temporarily new record set during last night’s Asia trading.
At the same time analysts wonder whether the flight into Gold may represent a new bobble
which it is better to get out before it is, too, late. They argue that Gold is not an industrial metal, and advise
that this might be the right time to consider oil, silver or palladium as an alternative.
Stock markets in Europe and US continued the stabilizing, slightly upward trend seen at the beginning of the week in Asia
making optimists think that the bottom is reached for now. KOSPI (South Korea) is the winner in Asia this
CHF and Yen continue to be preferred currencies with EURO/USD trading at 1.4350, waiting for whether Bernanke
and his FED shall come up with a new stimulus package. In Germany Merkel defiantly stated that markets shall
not be allowed to dictate her policies.