Gold Why is it still going up?

[BigJonMcQuimm]

Why is gold still rising?

Is that part of Phase II? Are govt secretly buying up gold?

Are they worried they may get called?

[POORCARDEALER]

because its safe and it can be physical, unlike most investments at the minute.

20kgs of 9ct or a number in a (dodgy) bank book?

[xiphias]

What part of fallen $70 since friday is still rising?

[spikeyhead]

xiphias said:

What part of fallen $70 since friday is still rising?

You're making the mistake of letting the facts get in the way of a good story.

Except that its not even a good story.

[BigJonMcQuimm]

I understand that it has come down 70$

But I reckon it will continue to rise. Am I mad?

A friend is in Dubai and says the the yanks are buying up as much gold as they can get hold off (yest).

[MrVelox]

Better keep falling, I need a new watchband, should have bought one when I could have.. arrgh.

[Timmy35]

It peaked over $1000 early in the year and since then having fallen back all the way to @ $740 has only managed one weak push over $900 before falling back again. It hardly 'keeps going up'

It's gone up alot in £ terms purely because the £ has fallen versus the $ which gold is priced in, but that's an FX trade not a fundamental gold play.