Wednesday, November 29, 2006

Can You Say Flip-Flop ?

Editor: Isn't this the same guy that just told us gold is going down because the economy is cooling? This is some great reporting isn't it?

Gold, Little Changed, May Gain as Investors Bet Against Dollar
By Pham-Duy Nguyen
Nov. 29 (Bloomberg) -- Gold, little changed in New York, may gain after a report showed sales of new homes in the U.S. fell in October, reducing chances the Federal Reserve will raise rates anytime soon.
Higher interest rates make holding gold less attractive. The Fed has held rates at 5.25 percent since June, helping to send the dollar 9.4 percent lower against the euro this year. Gold is still up 24 percent. (read the rest of the story here....)