-- Posted Thursday, 18 June 2009 | Digg This Article | | Source: GoldSeek.com
Extrapolating charts is notoriously difficult but in these charts we can clearly see the $707 low for gold last November and the more recent low point of $925 set this Monday. Could these be the bottom prices for gold?
You have to wonder. The new investment demand that supports higher bullion prices looks very strong, and recent calls to monetize gold are manna from heaven. Any sign of inflation and gold prices would rocket.
On the other hand, a repeat of last autumn’s equity crash might drag gold down again. This kind of event is dollar positive and therefore gold negative, at least in the short term.
These forces are pulling in opposite directions and might leave gold prices range bound until they are resolved. But it is just a matter of waiting for gold prices to go up, nothing has happened to reverse the bullish outlook for gold prices.
-- Posted Thursday, 18 June 2009 | Digg This Article | Source: GoldSeek.com
Previous Articles by Peter Cooper About Peter Cooper:
Oxford University educated financial journalist Peter Cooper found himself made redundant by Emap plc in London in the mid-1990s and decided to rebuild his career in Dubai as launch editor of the pioneering magazine Gulf Business. He returned briefly to London in
1999 to complete his first book, a history of the Bovis construction group.
Then in 2000 he went back to Dubai to become an Internet entrepreneur, just as the dot-com market crashed. But he stumbled across the opportunity to become a partner in www.ameinfo.com, which later became the Middle East's leading English language business news website.
Over the course of the next seven years he had a ringside seat as editor-in-chief writing about the remarkable transformation of Dubai into a global business and financial hub city. At the same time www.ameinfo.com prospered and was sold in 2006 to Emap plc for $27 million, completing the career circle back to where it began a decade earlier.
He remains a lively commentator and columnist as a freelance journalist based in Dubai and travels extensively each summer with his wife Svetlana. His financial blog www.arabianmoney.net is attracting increasing attention with its focus on investment in gold and silver as a means of prospering during a time of great consumer price inflation and asset price deflation.
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Have Gold Prices Already Bottomed Out?
