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Gold plunges to the lowest in six months but you still cannot buy

Posted on 18 February 2013

Gold is now the cheapest in six months. After steadily advancing almost the whole of last year, gold has suddenly halted in its tracks. At below $1,600 an ounce on Friday, prices are down almost 3% in February. The fifth straight monthly drop is gold’s worst run since 1997.
Gold peaked to $1,921 in September 2011. If you have been following gold’s progress (and in India, who doesn’t), this unexpected change raises two questions. One, since jittery investors seeking risk-free assets love gold, do falling gold prices mean a rising world economy? Two, is it a good time to buy? The short answer to both is no………………………………………..Full Article: Source


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VRS - who has written 39533 posts on Opalesque Commodities Briefing.


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