12.01.2015 - What’s In Store For Gold Price in 2015?
The year started out strong and many gold bulls called the end of the downtrend. However a strengthening US Dollar, signs of economic growth in the US, and concerns over the Fed’s tapering program put an end to the bull market pretty early in the year when gold peaked in March at ~$1,370/oz. These signs, among others (which I will discuss in a moment), prompted me to call for more downside in the gold market in September when the price was hovering around $1,300/oz. Shortly thereafter the gold price fell below its critical support level of ~$1,180/oz. and traded down to ~$1,135/oz. before rebounding back to today’s range, which is roughly $1,180 – $1,220/oz. ..............................................Full Article: Source
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