You Can Count On Gold To Hit $2,500 Undeniably Soon, Perhaps As Early As Year's End!

March 28, 2011 - PRLog -- Gold had a week for the storybooks but ended having a whimper. Nevertheless, gold bugs stay confident. Even though the CME April gold contract (presently the benchmark “nearby” contract) had a all time high close on Wednesday of $1,438, and also the London PM fix achieved a historical level on Thursday of $1,447, both Thursday and Friday observed steep declines within the New York afternoon following European markets had closed. And so, for the week, April gold GCJ11 closed quietly having a gain only $10.10 (0.7%). Visit http://silver-dollar-values.com for more silver and gold tips.

Obviously, the faction we call the Radical Gold Bugs - who think that gold is continuously subject to covert, malign sway by the U.S. authorities and also their chosen instruments - had been neither whimpering nor noiseless.

A writer on Bill Murphy’s Le Metropole Cafe website snarled: “The Gold Cartel showed up for the second day in a row, late, and punished both gold and silver in a similar manner. … It will surprise no veteran Café member that gold was bombed the past two days going into an option expiry on Monday … same tricks (tactics) time and time again.” It is a certainty that CME gold-option expiries appear to attract heavy trading pressure. http://silver-dollar-values.com has all the details for a precious metals investing decision.

Dan Norcini at his brand new Trader Dan’s Market Views web site had a reasoned assessment of Friday: “…the U.S. dollar’s technical-chart picture is horrendous. It had broken through a critical support level near 77 on the USDX DXY last week and had further descended down towards the tremendously important 75 level. The ugly truth is that the dollar was on course for a major crisis if it violated the 75 level.” “Enter the Fed officials today and yesterday. Apparently the strategy was to get several of the FOMC governors to hit the airwaves talking about ending the QE program. … Result? Up goes the dollar and down goes the precious metals market. Coincidence? I hardly think so.”

The picture of a determined official-sector attempt to cap the gold cost is mind boggling for the gold bulls, particularly as a credible rumor of it's most likely to attract opportunistic gain-motivated sellers and be self-satisfying. CLICK HERE to check out Silver Dollar Values Silver Prices now! http://silver-dollar-values.net has all of the details for an intelligent investing choice.

However this time the fear might be overblown. For one thing, gold stocks are optimistic. The ARCA Gold Bugs Index HUI was able to gain 5.45% last week, six times gold’s climb. And whilst gold shares usually are still below their heights of early December, the HUI does seem to have broken its downtrend since then. Gold bugs think that the shares do occasionally display predictive abilities.

For another thing, physical market place premiums as monitored on Le Metropole Café have advanced lately. This stems partly from the U.S. dollar decline, as well as partly from the recent beginning of a move in emerging-market equities. This really is firming up such foreign currencies as the Indian rupee, as well as for that reason strengthening their bid to the world wide gold marketplace.

For that reason, the assessment published Friday on the Jesse’s Café Americain web site deserves attention: “I do not know what it is going to take to move gold over that neckline in the big inverse head and shoulders formation, or how long it might take. But I suspect strongly that when it does break out, we will see another fast move higher, because so many in the markets are not positioned for it. After at least one serious ‘gut check’ on the longs, gold will most likely move fairly quickly to $1,590.”

Depending on what occurs, I won't be surprised to see gold hitting $2,500 by this year's end. Now might be an outstanding time for you to make investments in gold and silver today. http://silverdollar.cc

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