Even though gold prices stayed flat yesterday, there's an excellent cause to remain on board for higher gains ahead. The best really is however to come... here's why: Having a crossover in between the shorter and longer-term moving average, gold prices just produced a “Golden Cross” yesterday. The 50-day moving average finished the day at $1,650 and also the 200-day moving average was at $1,645. How high will silver go? Learn more >> http://www.gold-
The technical sign signals a fortifying bull marketplace. Fairly frequently, the longer-term moving average turns into an important point of resistance when bullish trading decreases.
While Adam Sarhan of Sarhan Capital explained: "Given shorter-term moving averages have all turned higher in recent weeks and the bullish price action recently, this golden cross today is an additional indicator of strength in an already strong market,"
The last time a Golden Cross developed was on Feb. 6, 2009, and gold prices as a result rose 11% over the next 11 trading days. The Federal Reserve's QE3 announcement last week and loose financial policies from other significant central banks, particularly the ECB, have restored interest in gold's attractiveness as an inflation hedge as well as spurred a purchasing frenzy.
Although we can't really predict exactly where gold may go from here, there isn't any doubt that the financial climate is perfectly aligned to get a continuing gold rally, pressing gold prices as much as a brand new peak for 2012. Peter Schiff, CEO Of Euro Pacific Capital "The dollar is vulnerable to a massive collapse . . . buy gold and silver." My recommendation is to buy gold and buy silver today while the prices are still relatively cheap! How high will silver go? Learn more >> http://gold-
