Trade Alert – Bought Even More Gold

Gold hit $733 this morning, a 27 year high.

From Agora’s 5 Minute Forecast today:

“This move in gold is very different from the spike of May 2006,” says Adrian Ash of bullionvault.com. “Back then, gold moved higher with stocks and bonds. Now stocks and bonds are slipping back while gold attracts a genuine safe-haven bid from private investors and — more crucially — from savers.”

Gold is rising against the euro and the pound, too, not just the dollar, stocks and bonds. “Gold is trading within a few euro cents of a 16-month high against the euro,” Adrian writes, “and it has jumped more than 10% against the pound over the last month.”

I purchased 2 more mini-gold contracts 5 minutes ago. We’ll see if there’s a bit more to squeeze out of this trade now that gold appears to have the momentum.