Gold Rises
Futures traders took Gold higher as investors looked to alternatives to the US dollar.
Gold rallied 31 percent in 2007 as the Federal Reserve cut the benchmark interest rate.
It is expected that Gold will rally if the European Central Bank keeps the benchmark interest rate unchanged tomorrow.
A Look At The Chart
A look at the GDX chart shows a rise in value today for Gold.
Although there has been what appears on some Gold charts to be a double-top, we would expect a reversal.
However, the USD interest rate cuts continue to cause Gold to soar. This may continue depending on the outcome of the ECB benchmark rate tomorrow.
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