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This gold price fall is a bad omen
Gold is headed for its biggest two-day drop in 30 years being below $1400 per ounce for the first time since March 2011 in the wake of underwhelming Chinese growth data.
"Gold has lost quite a bit of sheen. Domestic prices have declined by 25 percent in the domestic market from its peak level. Prices are likely to stabilise at Rs 24,000-26,000 per ten gram," said Harish Gallipilli, Head of Commodities at brokerage firm
Sure, gold remains the favorite of most precious metal investors, but THIS is the metal you really want to double down on right now. Three catalysts will propel the price much, much higher over the coming months and years.
Gold's most recent turn lower started in October 2012 on a sour cocktail of negative price drivers which included concerns the U.S. may curtail its monetary stimulus program, damping its appeal as a perceived hedge against liquidity-fuelled inflation
Yesterday, Goldman was stopped out of its inflationary Long Brent reco for a 15.5% loss (for the clients of course, not for the Goldman counterparty traders who made 15.5%). Today, it was time for Goldman to get stopped out
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