Petaquilla News: Gold continues higher as equity traders monitor the Dow Jones Industrial average
Aug 26, 2010
Gold prices are closer to an all-time high despite a relatively strong dollar. One ounce of gold currently goes for $1,236 in early evening New York trade. (Aug 25)
Gold closed Tuesday at $1,230.40 after a Monday close of $1,225.90. At one point in early morning New York NYMEX trade Tuesday, gold traded as low as $1,210.
The current market for aggressive gold traders is a record high of $1,261 reached in late June. A break of this level would probably produce a run up toward $1,300, a price most have forecasted to arrive at some point in the remaining months of 2010.
Gold continues higher as equity traders monitor the Dow Jones Industrial average, which is trying to maintain the 10,000 plateau.
The price of gold has been moving steadily higher since finishing a moderate pullback in July of $1155. A call for $1300 an ounce of gold has been on going for some time now.
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