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Gold has been rising up the charts and investors are positioning with the yellow metal as they look for a safe haven investment in the current unsteady economic atmosphere. Gold for December delivery ended the day yesterday at $1,410.10 per ounce. Yesterday, stocks struggled but commodities soared. A day earlier, gold climbed to a record $1,414.85 an ounce. It appears that on the global perspective today, gold is falling on lower buying rates. The dollar gained yesterday and that strength carried through today and helped to cause a drop off in gold buying. Gold dropped more than $30 from the the height of yesterday’s session earlier. It was a sharp drop, but indications are that precious metals are rebounding now and even though the dollar is gaining, trends have shown precious metals to be consistently high as well. The greenback has risen .5%, but gold is holding strong around the $1400 per ounce mark. Other commodities appear to be holding at high level as well. Silver hit a fresh 30-year high yesterday and is trending in the green as well. Copper finished the day up by 2.19% at $4.04 per ounce. Many analysts are debating the statistics right now and looking at historic trends. Are we seeing bubble figures right now? Author: Camillo Zucari
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