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« Gold-prices: Change over to Feedburner | Main | Agnico-Eagle on the acquisition trail »

GOLD: The fight back begins

A $22.00 surge saw gold catch investors flat footed as it reversed the previous days losses and rocketed up to $679.50.

It would appear that inflation raised its ugly head just to give everyone the jitters and gold, which is often seen as a hedge against inflation, took its chance to move to higher ground.

A quick look at the Chart;


The technical indicators are on the high side but not alarmingly so. The gold price has also put some daylight between the 200DMA and itself.

We think that this may be just the start of an energetic run for gold prices as it has managed to accommodate various downward pressures lately. Gold’s stubbornness and refusal to go down with any significance bodes well for the next phase which we believe will be a run to the $750.00 level before taking out $1000.00 some time this year.

Get in position, pick your partners, in terms of gold mining stocks and hang on it will be a volatile ride.

21 February 07

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Reader Comments (2)

I cannot see much good in your outdated charts. Why not have something up to date that might be use full.

February 21, 2009 | Unregistered CommenterPaul Yoquelet

Some time ago our readers asked us to group together articles about a particular company so that they didn’t have to search the whole site to see what we had written in the past about that company.

So we came up with the idea of relating articles by the company name, which works well for Cameco as the system then groups together those articles about Cameco.

However for articles of a more general nature the system does not work so well. Hopefully we can improve on it in future.

Best wishes,


February 22, 2009 | Unregistered CommenterGold Prices

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