posted
Any opinions on this today? Profit takers? I think this has alot more room to move up but I am no expert!!!
Posts: 162 | From: Houston | Registered: Aug 2009
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This should have a positive impact on ALL gold stocks including DANR!
OCT6th Potential end of dollar-based oil deals helps gold shine
TOKYO (MarketWatch) -- Growing speculation over the potential end to dollar-based trading in the oil market may be part of the reason gold prices have rallied beyond $1,020 an ounce to stand near their highest level in 18 months.
Gulf Arab states, along with China, Russia, Japan and France, are planning to put an end to dollar-based trading in the oil market, according to an exclusive report published Tuesday in the U.K. by The Independent.
"News on gold's expected future role in oil transactions between these trading partners has sent the price past $1,020," said Peter Spina, chief investment analyst at GoldSeek.com.
In place of the greenback, the nations plan to use a basket of currencies, including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar, the report said.
The Independent said the plans were confirmed by both Gulf Arab and Chinese banking sources in Hong Kong
Posts: 162 | From: Houston | Registered: Aug 2009
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posted
This one always seems to just creep up. While not exciting, it eventually gets to the same levels the wild ones get to!
Posts: 162 | From: Houston | Registered: Aug 2009
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