Posts
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vncA5bXFn3ppHf9DqnAUdnnZ9bcpijL-eCx5AFTXeA45IeVTZvXDMQvfbb_DOFLc5BRBGNhg_gU8j-2bk2uhmLMrtqUkzYWZBxRdUyHXOc=s0-d)
By Nico Isaac
Tue, 28 Feb 2012 16:00:00 ET
Hedge funds love it. Housewives love it. And now, pooch hounds love it. On February 26, the world's fascination with gold reached unchartered "terrier"-tory when the scene-stealing Uggie the Jack Russell dog from "The Artist" sported an 18-carat gold bone-shaped tag to the 84th Academy Awards.
So, as demand for gold continues to soar, the question is: Will gold prices do the same? Is the precious metal enjoying the benefits of a soon-to-burst bubble -- or, of a bull market without limits?
The mainstream finance always looks for price trends drivers outside the markets. Lately, the number one item on that list has been the Greek debt crisis. But as these recent news headlines make plain, the news from Greece has given gold about as much direction as a dog chasing its own tail:
>European economic crisis -- bearish for gold? "Bullion was pressured by lingering economic uncertainty after leading world economies told Europe it must put up extra money to fight its debt crisis if it wants help from the rest of the world."
>European economic crisis -- bullish for gold? "Gold Prices Gain As Investors Eye Europe."
>Greek bailout -- bullish for gold? "Gold Rallies Strongly On Greek Debt Deal. The marketplace gained increased investor risk appetite as Greece secured its next round of bailout money from the European Union."
>Greek bailout -- bearish for gold? "Gold Prices Pause on Greek Bailout Hangover."
Well here, you see a riveting chart of a long-standing trend channel line in Gold that has contained the major peaks and floors in gold prices since 1999. Below is a truncated version of that very chart:
Tue, 28 Feb 2012 16:00:00 ET
Hedge funds love it. Housewives love it. And now, pooch hounds love it. On February 26, the world's fascination with gold reached unchartered "terrier"-tory when the scene-stealing Uggie the Jack Russell dog from "The Artist" sported an 18-carat gold bone-shaped tag to the 84th Academy Awards.
So, as demand for gold continues to soar, the question is: Will gold prices do the same? Is the precious metal enjoying the benefits of a soon-to-burst bubble -- or, of a bull market without limits?
The mainstream finance always looks for price trends drivers outside the markets. Lately, the number one item on that list has been the Greek debt crisis. But as these recent news headlines make plain, the news from Greece has given gold about as much direction as a dog chasing its own tail:
>European economic crisis -- bearish for gold? "Bullion was pressured by lingering economic uncertainty after leading world economies told Europe it must put up extra money to fight its debt crisis if it wants help from the rest of the world."
>European economic crisis -- bullish for gold? "Gold Prices Gain As Investors Eye Europe."
>Greek bailout -- bullish for gold? "Gold Rallies Strongly On Greek Debt Deal. The marketplace gained increased investor risk appetite as Greece secured its next round of bailout money from the European Union."
>Greek bailout -- bearish for gold? "Gold Prices Pause on Greek Bailout Hangover."
Well here, you see a riveting chart of a long-standing trend channel line in Gold that has contained the major peaks and floors in gold prices since 1999. Below is a truncated version of that very chart:
1 comment:
Since publishing of This Article Gold lost almost 4.5% to a low of $1709 and Silver fall 8% to a low of $34.54 .... Is this a correction for a stelth Bull market ... or a bubble set to pop...!
Post a Comment