Goldmember

Its amazing how fast gold has bounced back - but it is hitting new highs this morning. $500 is looking more and more likely. Here is the price chart over the past 2 weeks:
One of the most amazing things about the recent strength - is Gold is not appreciating vis a vis one currency and losing strength against the other. The dollar has been very strong relative to the other currencies over past few days - but still losing ground to gold at the same pace as the other currencies. Case in point - Gold is currently trading around 413 Euros. This is an all-time high in Euros and if you were to apply the January 2005 exchange rate when dollar was much weaker - you can get 413 Euros X 1.35 exchange = $557 gold price. That may be too bullish here in the near-term - but I am keeping an eye on the amazing strength right now. Here is the chart of all currencies, etc.:


Regards,

BG