Gold Pull Back Likely Next Week says Jim Foster at Lloyds International in Brazil

Sept. 18, 2011 - PRLog -- A few factors mean that it is likely we will see a pull back this week in gold and other precious metals. A major factor is going to be what happens at the two-day monitory policy meeting at the Fed where we expect to see the announcement of another stimulus package for the economy.

"I am not worried if gold pulls back even to $1750. We have been profiting from both the upswings and down in our latest options purchases. I maintain my bullish opinion on gold and expect it and platinum to be trading significantly higher within the next 90 days" says Jim Foster, a Senior Broker with Lloyds International in Brazil.

He goes on to say "The European crisis may seem to investors to have improved but nothing has actually changed and it will rear it's ugly head again sooner rather than later which will bolster gold and other safe haven investments."

Big year so far for gold

The yellow metal is up 28% for the year so far continuing a rally that started 11 years ago.

Purchases of gold jewellery are up 7.5% mostly on increased demand from China and India.

Central bank buying of gold has increased dramatically recently with predictions that total buying will top 336 tonnes this year.


Jim Foster and various other Senior Brokers from Lloyds International along with Director of Institutional Trading, John Logan will be attending the Latin American Investment Forum at the InterContinental, São Paulo in Brazil between December 12-13. For further info contact Jim, RIck Amory or Mark Goodman at Lloyds on +1 866 978 7654.

Disclosure: Jim Foster is holding several different long positions in gold.

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Commodity trading services to clients in over 60 countries. Lloyds International offers a state of the art trading platform to each of our clients from our offices in Brazil and Costa Rica. FInd out more about the Lloyds advantage http://www.lloydsint.com