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Gold Reads

* In September gold prices rose 5.4%, to the highest monthly close in U.S. history, as silver jumped 11.5%. Year -to- date gold prices are up 12% and silver is up a sterling 50%. Precious metals are again demonstrating how a healthy bull market works: Two steps forward, one step back. A “buy- the- dip” strategy is recommended.

* “Today’s closing price on gold confirms a breakout of a reverse head and shoulders pattern that should propel gold to between $1,250 and $1,300 in fairly short order,” reports broker and financial technician Jim Carrillo at GoldIRAs.

* “The dollar’s going to go down further and that’s going to help gold,” David Thurtell, an analyst at Citi, said. Gold is on track to close its best quarterly performance since the first quarter of last year, rising 8% in the past three months while the dollar has shed more than 4% over the same period,” reports Globe&Mail.

* Too late to join the gold rush?: “All the ingredients are in place for a sustained bull market in gold. Falling mine supply, robust jewelery demand and the potential for a reduction in net central bank sales will all be supportive of prices,” said Evy Hambro, manager of Black-Rock Gold & General to DailyMail.

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