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Gold On Verge Of Posting First Positive Year Since 2012
Gold On Verge Of Posting First Positive Year Since 2012
Gold is looking likely to finish the year positive for the first time since 2012, according to Frank Holmes writing in Forbes today. Holmes points to the weaker US dollar, the probability of near-zero interest rates for the remainder of the year and a seasonal increase in demand as underpinning the positive momentum.
“…the yellow metal broke above its 200-day moving average and is close to erasing its 2015 losses. This could be the price reversal many gold bulls have been expecting”.
Holmes highlights the so-called US dollar “death-cross” which occurs when the 50-day moving average crosses below the 200-day moving average, an indicator that is “widely recognized as the start of a bearish trend” and not seen since September 2013.
This may be indicative of a downward trend for the dollar that would be good news for gold, allowing it “the breathing room it needs to reach the important $1,200 resistance level”.
Read more on the GoldCore.com blog
DAILY PRICES
Today’s Gold Prices: USD 1173.70 , EUR 1032.87 and GBP 747.86 per ounce.
Yesterday’s Gold Prices: USD 1171.65 , EUR 1032.93 and GBP 747.86 per ounce.
(LBMA AM)
Gold in USD – 1 Year
Gold closed down $5.00 yesterday, ending with a loss of 0.43% for the day. Silver slipped to as low as $15.761 and ended with a loss of 1.12% closing at $15.83. Euro gold fell to about €1033, platinum lost $6 to $1009.
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Contact us at sales@goldcore.com if you wish to meet John in Sydney to discuss optimal strategies to access and allocate funds to the gold market today.
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When the price has been beaten sub $1k (not personally holding my breath) and no one is buying (because they can't as it is all gone to China/India/Russia) they will proclaim it still a barbaric metal because... no one is buying it even though it is on sale.
wtf is the ETF market about? You see a few big players doing their version of pump and dump every morning. How does that pennies play work out in the big picture? I am trying to understand more about the PM game but I just ain't getting it. I got some cheap PMs. I also have some from when they were not so cheap.
Now that Gold Core has trumpeted on ZH, TPTB has a message for Au & Ag enthusiasts:
https://youtu.be/kD2g8hTIWF8?t=18s ...and so goes the market, thanks GC!
Still 2 months left in the year. Plenty of time to beat it back down.
On the verge ? Why not "looking to " or "mulling"?
You just woke the Monkey Hammer operators.
Not if the Bankers have their way! Paper is what rules the day ...at least in the short run.
But only in the short run. Remember, we're running on "full faith and credit", but everybody is running out of both.....
Yea, but, we have the Fed.
lol
pfft...Gold , oil, most all commodities are heading far more down before things turn around.
I'm waiting for the 'gold surging higher' article of the day as gold is currently up, what, four dollars? It's a golden nugget miracle!