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New Gold Bullion Price Support Level Released
New Gold Bullion Price Support Level Released by Popular Financial e-letter Profit Confidential
According to Profit Confidential, “For dire-hard gold fans, the number to watch, the support level for gold bullion is $1,500 an ounce. At that level, gold would have corrected a full 20% from its record high of $1,895 reached on September 5, 2011. At $1,500 an ounce, gold bullion prices would be severally oversold.”
Profit Confidential says all the money printing by world central banks since the credit crisis hit in 2008 has greatly expanded the fiat money supply. The more fiat money in circulation, the greater the threat of inflation, says Profit Confidential, as evidenced by Britain’s inflation rate hitting a three-year high in September—5.2%
Michael Lombardi, a lead contributor to Profit Confidential, writes, “There are plenty of reasons gold investments are still the place to be. The best way to make money in the 10-year old bull market in gold is still with the stocks of the junior and senior gold-mining stocks. I look at any price weakness in the gold-mining stocks as an opportunity. One or two years out, we could be looking at the gold mining stocks and realize what a bargain they were in the fall of 2011.”
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’