Gold closed at $1064 per troy ounce in London. Once again the driving force behind the precious metal's surge was the falling dollar. The American greenback dropped against the euro, driving investors towards gold.
There really seems nothing steaming the tide of the falling US dollar. As the United States pushes toward larger deficit the push out of the dollar will likely continue. The key factor in this commodity bull market and falling dollar is the presence of Asia. Never before has there be an economic power challenging the United States like China. Because of China, the historical indicators of the past are nearly null and void as their economic growth has been stunning.
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