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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold is regaining its glow

Posted on 22 July 2013

After plunging from a high of nearly $1,900 an ounce, gold is set to rally about 20%, to $1,550. Why traders “have not been as bullish since gold prices were under $300.”
The collapse in the gold price from a high of nearly $1,900 an ounce in August 2011 to a low of less than $1,200 late last month has inspired a few gold bears to liken the metal’s outlook to the early 1980s, when it fell nearly two-thirds from its January 1980 peak of $850. That bearish scenario would mean a low of $640 before history fully repeats itself………………………………………..Full Article: Source


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