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cbwang888 (26.09)

Gold set to hit $1400/oz in 12 months

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February 18, 2010 – Comments (2) | RELATED TICKERS: GLD , SLV , GDX

 

Gold  chart turn bullish yesterday even when dollar jumped against basket of currencies. 

In spite of IMF 191 tone gold selling, gold future hold up above $1100/oz.  Indeed, last gold bull run was sparked by the IMF 200 tones gold sales to India central bank (bought @ average $1050/oz) .

PPI/CPI number just released gives further support to gold ...

Chart: Gold set to hit $1400/oz in 12 months

 

 

2 Comments – Post Your Own

#1) On February 19, 2010 at 11:09 AM, cbwang888 (26.09) wrote:

Gold held up strongly despite Fed discount rate hikes. Investors in Euro zone now choose gold over USD as safe haven because they know that US has the same debt problems like theirs?

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#2) On February 19, 2010 at 11:13 AM, outoffocus (23.22) wrote:

Good point.  But theres alot of buzz now that the Fed may raise the Fed funds rate some time this year. My current investment strategy is based on the Fed not pre-emptively raising rates.  But if that changes I'll need to re-evaluate.

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