Gold Investments Market Update - Swiss Central Bank Gold Sales Minimal due to Likely Increasing...

Posted Friday, 25 July 2008 | Digg This Article | Source: GoldSeek.com Gold finished trading in New York yesterday at $922.20, down 50 cents and silver was down 16 cents to $17.22. Gold has rallied in Asia and in early European trading. While oil is up slightly and the dollar is down slightly, gold is likely to be up on bargain hunting and safe haven buying. The 100 day moving average at $916 appears to be good support and the summer low is likely to be around these levels although a brief dip below $900 is possible. Risk aversion is in evidence again as stock markets have fallen globally on reports fuelling fears that Britain, the euro zone, Japan and the U.S. are sliding toward recession. U.S. financial stocks suffered their worst one-day decline since 2000, as investors' recent optimism was dented by renewed fears over the... [read full story]