Van Eck Precious Metals and Oil Hotline
"...Physical demand, investment demand, limited gold reserve sales by central banks, dehedging by some major gold producers and yet another failure of the U.S. dollar to mount a serious rally – have all come together in gold’s favor of late. We have heard several voices in the financial community that are claiming the $600.00 level will act as big resistance to gold and will likely stop the current rally. If the U.S. dollar continues to fall flat on its face – the $600.00 level will soon be transformed into a support for gold. During the next 100 days, gold has an excellent chance of trading above $635.00 an ounce. That would be a gain of 6.2% for spot gold from here. It would also bring spot gold’s gain since the end of 2005 to nearly 24%."(October 27, 2006)

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