Socio-Economics History Blog

Socio-Economics & History Commentary

Currency Wars Continue To Rage & This Is Positive For Gold !

  • Currency Wars Continue To Rage & This Is Positive For Gold! 
    by www.kingworldnews.com
    Today 25-year veteran Caesar Bryan told King World News that “Currencies wars are continuing to rage, and the reality is this is a very positive environment for the gold price.”  Bryan, from Gabelli & Company, also said, “…the bullish case for gold has never been stronger.”
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    Here is what Caesar had to say:  “When we last spoke, Eric, I outlined the fundamental bullish case for gold.  I believe the gold price is going to go significantly higher over the next six months.  The gold market had reached a point of being overbought when it was up at the $1,800 level.”
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    Gold had spiked from the mid-$1,500 area to $1,800, so it had gotten a little ahead of itself.  Well, sure enough gold has taken a hit, and broken through its 50-day moving average which was at $1,723.  Whether gold needs to go down to its 200-day moving average near $1,660 remains to be seen.  I hope not. But from a longer-term standpoint, the bullish case for gold has never been stronger….
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    read more!

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October 26, 2012 - Posted by | Economics | , , , , , , , , , , ,

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