Weaker Dollar Solidifies Gold Prices With More powerful Recovery On the Way

Oct. 22, 2011 - PRLog -- Friday morning, gold prices inched up to a stronger price rate, buying and selling inversely using the weakened dollar index. General dollar buying and selling this week continues to be fairly “choppy.” Moreover, the markets are awaiting an official program from Europe's leaders concerning the EU financial debt crisis. These two elements are placing the precious metals marketplace in a bullish light. While in London, A.M. gold was fixed at $1,623.00 in comparison with last night's P.M. fixing of $1,620.00. Go to http://silver-dollar-values.com for profitable investing ideas.

Gold bulls searching in the direction of long-term benefits have the technical benefit right now. Bulls' next upside technical goal would be to create a near over strong technical resistance at $1,705.40 in December futures. Such would provide the bulls with refreshing upside technical momentum to recommend an uptrend could be re-established. The Bears' next near-term downside price goal is closing prices beneath psychological support at $1,600.00. First resistance is noticed at Thursday’s high of $1,646.50 after which at Wednesday’s high of $1,666.90. First support is noticed in the overnight low of $1,612.80 and also then at this week’s low of $1,604.70.

December silver futures have slumped somewhat this week also. Silver bulls' next upside price goal is creating a close over powerful technical resistance at $33.585 an ounce. This kind of would recommend the silver marketplace has place in a near-term low and prices can then trend greater. The subsequent downside price breakout goal for the bears is closing prices beneath strong technical support in the October low of $28.435. First resistance is noticed at Thursday’s high of $31.375 after which at $32.00. Next support is noticed in the overnight low of $30.28 and then at this week’s low of $29.935. Go to http://silver-dollar-values.net for profitable investing ideas.

Thus, even though many commodity traders have been getting ready for the worst and dealing with some serious sell-off stress, most analysts predict that a vast majority of commodities will rise more substantially as quickly as the monetary debacles diminish in the EU. While a lot of traders started selling commodities in a slight freak out this week, hedge funds have been particularly aggressive.

Europe's crisis aside, Barclays Richesse believes the macro-economic outlook everywhere else is looking up. Information suggests proof the U.S. is breaking away from the current soft patch we have been struggling to get away from and China might be heading for a soft landing. Barclays states they're favoring corn, crude oil, and aluminum as commodities using the most “constructive medium-term fundamentals.”

So far as gold is concerned, re-established worry of inflation and also the currency decline are set to maintain gold prices flying high. Now would be an excellent time to purchase gold and purchase silver while the prices are taking just a little breather. Go to http://www.silver-dollar-values.com for profitable investing ideas.

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