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I was just about to say that we keep bumping our heads on .16 and if it gets through that we're in real good shape. Let's see if I was right.
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Well we did break .16 but looks like my guess was wrong. I thought if we broke .16 it would fly up. It's dropped back down some. Nothing to panic about, obviosuly. If we really do break .02 this could go absolutely crazy.
quote:Originally posted by superman7: Pc we are goign to break .016 for sure its just a matter of time i am confident we will even see .02 today
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Nice to see this run finally. I've been for several days at .0125... been fighting the urge to unload those shares to jump on other runs. Feels good to finally get in on something before the run
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Gold Trades Near $700 an Ounce on Iranian Dispute, Dollar Fears May 10 (Bloomberg) -- Gold traded near $700 an ounce in Asia amid tensions over Iran's nuclear research program, and as investors sought alternative investments after the dollar fell close to its lowest in a year against the euro.
The dollar dropped amid speculation the U.S. Federal Reserve will not raise interest rates today, increasing the appeal of other assets like gold against the dollar. The U.S. government also said a letter from Iran's president won't ease tensions over the country's nuclear research program.
``The market is looking for alternatives to the dollar and diving into the metals,'' said Ron Cameron, a Sydney-based analyst at Ord Minnett Ltd. ``There's also concern as there wasn't seen to be anything new in the letter from the Iranian president to George Bush.''
Gold for immediate delivery fell $2.30, or 0.3 percent, to $698.60 at 10:32 a.m. Sydney time, after rising as much as 50 cents, or 0.07 percent, to $701.40. Bullion for immediate delivery last surpassed $700 when it touched $710.50 on September 24, 1980.
Gold futures for June delivery fell $1.30, or 0.2 percent, to $700.20 an ounce on the Comex division of the New York Mercantile Exchange in after-hours electronic trading at 10:33 a.m. Sydney time. They had risen as much as $1.40, or 0.2 percent, to $702.90, the highest since October 9, 1980, when the contract reached $708.50.
Bullion has surged 35 percent this year as investors bought the metal to hedge against inflation and as a safe haven. Oil prices reached records this year due to a dispute between Iran and the United Nations over the Middle Eastern country's nuclear program, sparking fears that supplies from the world's fourth- largest oil producer could be disrupted
-------------------- "Great Day for Up!"....Dr. Seuss
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