Let Mary Anne and Pamela Aden tell the story. Their Aden Forecast first came to fame in the great gold bull market 30 years ago. The Adens are careful and adroit traders, and have a strong track record according to Hulbert Financial Digest, but they were speculating that gold might ultimately reach $5,800 when I last looked. ( See Oct. 8 column.)Last night they wrote in a hotline: "Gold is the big news this week. It hit another new record high today, quickly closing in on the $1,100 level. This followed yesterday's $31 jump, which clearly propelled gold well above its previous high. The news that India bought 200 tons of the [International Monetary Fund's] gold (half of what it's planning to sell) at these high prices, and in one fell swoop, was incredibly bullish. It was viewed as a strong sign that gold is not too expensive and the Indians, who have a long gold history, obviously believe it's going high."
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