Jewelry Demand to Return Despite Higher Gold Prices
Oct 30 2009 Wall Street Journal
Gold has confounded expectations by comfortably consolidating above $1,000 an ounce, and traditional buyers in the jewelry market are facing up to the reality that higher prices are here to stay.
It's an attitude that could remove the last hurdle before gold can resume a rally that appears to have hit a roadblock for now.
"I would not advise anyone to short this market," said Jeffrey Rhodes, CEO of INTL Commodities in Dubai. "Indian's will be ready to buy if gold corrects. You might not see gold below $900 again," said Mr. Rhodes.
http://online.wsj.com/article/SB125670895898612495.html
30
October
Jewelry Demand to Return Despite Higher Gold Prices
Oct 30 2009 Wall Street Journal
Gold has confounded expectations by comfortably consolidating above $1,000 an ounce, and traditional buyers in the jewelry market are facing up to the reality that higher prices are here to stay.
It's an attitude that could remove the last hurdle before gold can resume a rally that appears to have hit a roadblock for now.
"I would not advise anyone to short this market," said Jeffrey Rhodes, CEO of INTL Commodities in Dubai. "Indian's will be ready to buy if gold corrects. You might not see gold below $900 again," said Mr. Rhodes.
http://online.wsj.com/article/SB125670895898612495.html