HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Gold has hit a new high in London today
Gold has hit a new high in London today...and broken $900.00 US resistance
posted on Jan 23, 09 06:51PM
NEW YORK (MarketWatch) -- Gold futures rallied above $900 an ounce Friday to their highest level since early October, as worries about the global economy and markets prompted investors to seek a safe haven.
Gold for February delivery rose $37 to end at $895.80 an ounce on the New York Mercantile Exchange.
Earlier, gold soared to an intraday high of $903.80 an ounce on Globex, which was the metal's highest level since Oct. 8, 2008.
"Investors are starting to see that the yellow metal is one of the few havens for protection from what is an inevitable wave of inflation," said Kevin Kerr, editor of Global Commodities Alert.
"Technically, gold is surging through some key levels, along with silver, and we are starting to see investors dip their toes back in the market," Kerr said. "Gold may well lead commodities out of this [recent] widespread sell-off."
Gold is typically seen by investors as a store of value and a hedge against inflation.
For the week, gold posted a gain of $55.90, or 7%, from last Friday's closing level of $839.90 an ounce.
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