Gold- Gold closing in on $1,000

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Gold closing in on $1,000

Thursday, September 03, 2009
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By Daily Crux Editor Justin Brill:

Gold jumped as high as $999.50 an ounce this afternoon, its highest price since Feb. 23. The yellow metal has been on a tear since the beginning of the month, gaining nearly 5% since September 1, the biggest three-day rally since March.

Analysts are pegging the move to everything from dollar weakness, euro strength, and September seasonality, to Indian gold buying, investor fear, and a strictly technical breakout... But most seem to agree gold will continue moving higher for the foreseeable future.

If gold manages to break $1,000, it's likely to continue higher and test the highs of the year.

Read full article...

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Topics:		Gold \| Precious_Metals \| Commodities

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