Investors are always evaluating the landscape to determine where they should put their money. With all of the uncertainty in the banking sector, they are moving into gold. In Europe in particular, exchange traded funds increased their holdings to more than 40 million ounces. This has the effect of establishing a cushion under the market.

The spot "gold fix" in London reached an all-time high of $1030.80 per ounce. On the futures market, gold traded above $900.00 per ounce. Traders expect the price to consolidate at these levels and move a bit higher.

Continue reading Gold is above $900 per ounce

Gold is above $900 per ounce originally appeared on BloggingStocks on Tue, 27 Jan 2009 14:15:00 EST. Please see our terms for use of feeds.