Thursday, October 7, 2010

At the Foothills of a Gold Parabola

Damn it!
I had the same thought while looking at the 10-year chart last night and forgot to post it this morning.
FT Alphaville didn't space out:
From the FT’s global market overview on Thursday:
Commodities. Another day, another nominal record for gold, whose chart looks to be entering the foothills of the parabola. The precious metal has hit a fresh peak of $1,364.6 as ratcheting up of the forex spat rhetoric adds to the worry about the debasement of currencies. The bullion is currently up 1.1 per cent to $1,360 an ounce.
Eh, voilà le chart: