30.07.2013 - Gold price recovery: New golden era or false dawn?
The price of gold is rising after recent sharp falls. Is it becoming a solid investment again? Last week saw the price of gold climb strongly, bringing July's total gains to around 10pc. Gold ''bugs'' – those who are committed buyers – pointed to market data, including the prices of contracts by which traders speculate on gold's future price, as evidence that ''a corner had been turned''. Is this really the case? What has happened to the gold price? Having peaked in autumn 2011 at almost $1,900 an ounce, the price fluctuated between $1,600 and $1,800 for much of the next year, before beginning a sharp decline from October 2012. Last month it fell below $1,200.......................................Full Article: Source