By Dave McCombs
Bloomberg
Friday, March 21, 2008
Gold gained for the first time in five days as some investors judged yesterday's decline to a one- month low had gone too far given prospects that inflation will accelerate, boosting demand for the metal as a haven.
The Federal Reserve as of March 19 lent $28.8 billion to the biggest U.S. securities firms to try to stabilize capital markets, in its first extension of credit to non-banks since the Great Depression. Pumping more money into the banking system may fuel inflation and demand for precious metals and other commodities.
``Fundamentally, the charge forward is still there,'' Peter McGuire, managing director at Commodity Warrants Australia, said today in a Bloomberg Television interview. ``The time to buy is on the dips.'' ... Read Entire Article
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