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<p>[QUOTE=&quot;Morgan1878, post: 739283, member: 17869&quot;]Factors running up gold today included a statement by Blackrock group that they thought central banks would be net buyers of gold in 2010. Blackrock is a highly respected investment group. </p><p><br /></p><p>Also, a report by Bank of America indicating that emerging market currencies in Asia, South America and Mexico may be undervalued by as much as 15%. </p><p><br /></p><p>Quiz: Guess which currency is estimated to be undervalued by 15.5%?</p><p><br /></p><p>Also, although gold is over $1100 India is entering the height of the wedding season from now through the end of the year and they expect good consumer demand.</p><p><br /></p><p>As well, once the rally started today, there was some serious short covering.</p><p><br /></p><p>Lastly, investment demand for gold as a long term investment/diversifier is growing.</p><p><br /></p><p>Where will Gold top out? Don&#039;t know..but watch the dollar and the health of the global economy. The healthier the world economy gets, the worse it is for&nbsp; gold since it removes uncertainty. On the other hand, if you have stagflation, which is crummy growth with rising interest rates, gold should prosper. Bernanke made a statement today he didn&#039;t expect interest rates to change for &quot;some time&quot;. That is an indication that a weak dollar and low rates will be around for months which could be very good for precious metals.[/QUOTE]</p><p><br /></p>

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