first majestic silver

Gold On Verge Of Posting First Positive Year Since 2012

Executive & Research Director @ GoldCore
October 20, 2015

goldGold is looking likely to finish the year positive for the first time since 2012, according to Frank Holmes writing in Forbes today.  Holmes points to the weaker US dollar, the probability of near-zero interest rates for the remainder of the year and a seasonal increase in demand as underpinning the positive momentum.  

gold chart

“…the yellow metal broke above its 200-day moving average and is close to erasing its 2015 losses. This could be the price reversal many gold bulls have been expecting”.

Holmes highlights the so-called US dollar “death-cross” which occurs when the 50-day moving average crosses below the 200-day moving average, an indicator that is “widely recognized as the start of a bearish trend” and not seen since September 2013.

This  may be  indicative of a downward trend for the dollar that would be good news for gold, allowing it “the breathing room it needs to reach the important $1,200 resistance level”.

Read the full article:  “Gold On Verge Of Posting First Positive Year Since 2012

Daily Gold Price
Today’s Gold Prices:   USD 1173.70 , EUR 1032.87 and GBP 747.86 per ounce.
Yesterday’s Gold Prices: USD 1171.65 , EUR 1032.93 and GBP 747.86 per ounce.
(LBMA AM)

Gold in USD – 1 Year

******** 

Courtesy of www.GoldCore.com

Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 


The 1849 Gold Rush sped up California's admission to the Union as the 31st state in that year.
Top 5 Best Gold IRA Companies

Gold Eagle twitter                Like Gold Eagle on Facebook