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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold hitting resistance around $1,440 but upward bias to remain

Posted on 30 March 2011

On Thursday, March 24th, gold hit another record high of $1448.60 an ounce as it attempted to breach the $1450 an ounce level for the first time in the history of the yellow metal. Since then the price has pulled back slightly and as to be expected, once again, investors are asking if the price is too high, and if gold is in a bubble.

When this bull market in gold began in 2000, the price was $250 an ounce. At the time, practically every main stream analyst saw no value in gold and advised clients to stay well away from this metal. It was referred to as a barbaric relic that no one wanted and besides who on earth would want to invest in something that did not pay a dividend?…………………………………….Full Article: Source


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VRS - who has written 36905 posts on Opalesque Commodities Briefing.


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