Gold @ $700 By End of June!

Yukuji Sonoda, precious metals analyst at Daiichi Commodities, told Reuters, “I think this trend will continue,”  “$700 is possible by the end of June.”

Sentiment turned bullish after gold broke a key resistance level of $650 an ounce last week and stayed above that level, triggering buying from investors who had sold the metal to cover losses after a recent selloff in global equities.

Traders say stable U.S. interest rates and the prospect of gold exchange-traded funds (ETFs) being traded on the Osaka and Tokoyo stock exchangeslater this year are bullish for gold.[tags]gold,spot gold price,gold trading,gold nuggets[/tags] Arizona gold