Gold's 6-Month High "A Flight to Safety" as Dollar Gains, Rumors Abound

- Friday 4th September 2009

European stock markets bounced 1.2% from their mid-week sell-off. Gold priced in Dollars stood 3.3% higher from this time last week.

"The exciting part of this Gold up-move," says Scotia Mocatta, "is that it comes without US Dollar weakness."

"There has been a flight out of risky assets into Gold as a safe haven," reckons Peter Fertig of Quantitative Commodity Research in Germany, speaking to Bloomberg. "It's been out of stocks."