Gold may hit the 700$ range soon!

With the recent market volatility bought on by the U.S sub prime affair,all the world metals became volatile as the traders sold off most of the metals in a bid to cover their loses to the sub prime massacre.gold has generally been seen as a safe haven,which is why the U.S dollar was pegged to the gold in the first place.anyway most experts agree that although the gold like other metals have been volatile of late,there are strong trends to show that there is going to be a very strong rally in gold very soon.
Let us not forget India,the largest consumer of the yellow metal in the world.as the festival season begins to start in India,the gold will surge ahead once again.there are also trends to indicate that the gold may soon 'decouple' from all the other economic swings thus reaffirming once again the safe haven that gold once was.as it is now,Spot gold hit a one-week high of $668.90 an ounce on Friday, up from its previous close of $659.20 in New York.gold may soon go all the way to the 700$ range and much much more in the weeks to come.this is indeed good news and some of the trading houses have already started buying gold with their eye on the Indian market and the Indian festival season!