主题：【原创】挡不住的金价：小评黄金市场 -- 不忘中国

Gold futures closed at their highest level since late 1987, soaring past $470 an ounce in New York.

Here are my opinions on the recent gold market and the future gold price:

1. Energy price and Inflation concerns:

Crude futures = $67 and natural-gas futures > $12 per million British thermal units due to the newest storm threat to production in the Gulf. This inflationary spike in energy prices has made every trader’s nerves extremely sensitive to the hurricane destruction.

2. Fiscal deficits and Economic uncertainty

The market feels the rebuilding of the Gulf Coast states will be a double whammy causing higher spending deficits. And during times of unusual uncertainty and dramatic anomalous events, it's not uncommon to see investors run towards the safety of something tangible such as gold.

3. Fed interest rate policy and Low confidence in Euro

With the threat of a second hurricane “Rita’ approaching, the Fed may be forced to hold off on raising rates at the end of this year, which will be bad for the dollar, and good for gold."

Also we could see even higher prices from Europeans who have lost confidence in the euro due to the election loss in Germany.

4. Overbought market:

But gold is somewhat overbought on a short-term basis. On the COMEX, Long position =159,922, short position = 44,670.

Thus, the next resistance price is $ 475, and the next is $500