The Phaserl


Gold Investors Weekly Review

from Gold Silver Worlds:

In his weekly market review, Frank Holmes of the summarizes this week’s strengths, weaknesses, opportunities and threats in the gold market for gold investors. Gold closed the week at $1,177.98 up $4.50 per ounce (0.38%). Gold stocks, as measured by the NYSE Arca Gold Miners Index, rose 5.94%. The U.S. Trade-Weighted Dollar Index climbed 0.73% for the week.

Gold Market Strengths

One-month gold lease rates in London, the cost to borrow bullion, soared to 0.3405 percent on Thursday vs. 0.001 percent in September, reaching a high not seen since December 2008. Reasons cited for the rate upswing ranged from supply/demand imbalances to borrowing by traders in order to short the metal.

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