Gold closed Friday at its lowest level since July 2011. In the last two days, gold was off about $79 and silver off about $1.60 at their worst points. Everybody is writing many reasons for gold and silver move but no-one know for sure where the bottom is.
My advice: hold your gold and silver.
Keep in mind, gold will end the year much higher than where we stand today and I trust the precious metals bull market will see gold and silver prices much higher before it is all over. Hang tight!
For long term investors: the gold prices may be more down but there is severe uncertainty in the market and it may be a better option to buy gold now.
I have Gold and Silver hurdle, support & resistance below: [Only Paid Subscriber can see]
Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.