Further Gold gains hinge on new wave of US money printing : Eldora Gold Resources News
Eldora Gold Resources Canada News: by Rod Myer.
GOLD is a barometer of the financial
system.
When all else looks shaky, investors tend to buy the yellow metal as a...
More
Further Gold gains hinge on new wave of US money printing : Eldora Gold Resources News
Eldora Gold Resources Canada News: by Rod Myer.
GOLD is a barometer of the financial
system.
When all else looks shaky, investors tend to buy the yellow metal as a last-resort store of
value based on human instincts formed over thousands of years.
And also, of course, based on
the experience of gold holding up in the really tough times.
The Australian Technical Analysts Association s Victorian president, Paul Ash, has been
watching gold closely of late.
He notes the precious metal has been on a strong upward trend
since hitting a low point of $US1160 an ounce on July 28.
After that it rose 19 per cent to peak on October 15.
It then dropped to $US1320, a 4.
4 per cent
retracement.
Over the past fortnight it seemed to be locked in a trading range between $US1320
and $US1346.
But last Friday it broke out of that range and Ash believes it could be headed back
to $US1381.
The fate of gold, he be
Less
