Gold to Gain

U.S. Global Investors Weekly
"Despite the relatively strong move up in gold prices and four consecutive weekly declines in the dollar, neither variable is overdone on our 60-day oscillator model. This indicates that there could still be more room for further gains in gold and more weakness in dollar in the near term.

June gold sales in Dubai were reported to be up 34 percent year over year due to stronger summer holiday demand and the Qatar Central Bank reported its gold holdings had risen by fourfold between April and January. Last year, Qatar said it wanted to diversify its foreign-exchange reserves away from the dollar."(7/13/07)

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