Another good Gold article from WSJ.
Gold prices could rise to as high as $1,300 an ounce in the near-term as inflation concerns and the likelihood of continuing dollar weakness draws buyers.
Gold set a record Wednesday, building on this month’s rally.
The nearby November contract rose $12.10 to $1,114, after setting an intraday record of $1,117.60 on the Comex division of the New York Mercantile Exchange. Most-active December gold also rose $12.10, to $1,114.60. Spot gold hit $1,118.70.
The November gold contract has risen nearly 7.2% this month and is up 26% for the year.
The dollar is likely to remain weak as long as U.S. interest rates remain low, making gold an attractive alternative to paper currency.
Source: WSJ