{"id":345,"date":"2010-08-11T11:23:47","date_gmt":"2010-08-11T18:23:47","guid":{"rendered":"http:\/\/goldcoinsrare.com\/?p=345"},"modified":"2010-08-11T11:23:47","modified_gmt":"2010-08-11T18:23:47","slug":"golds-volatile-price-action","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/golds-volatile-price-action\/","title":{"rendered":"Gold\u00e2\u20ac\u2122s Volatile Price Action"},"content":{"rendered":"

If you have been watching gold prices<\/a> since the beginning of this year you have seen some major up and down action.\u00c2\u00a0 Gold closed on the first trading day of the year at $1,121.50.\u00c2\u00a0 Since then it has closed as low as $1,058.00 on February 5th and closed as high as $1,261.00 on June 28th and sits today at $1,199.30.\u00c2\u00a0 Here is a chart from Kitco showing the gold spot price from the begining of 2010 to present:<\/p>\n

\u00c2\u00a0\"\"<\/a><\/p>\n

You can see from the chart that the underlying trend is positive, and if you looked at charts for the previous nine years you would see that the underlying trend is positive.\u00c2\u00a0 What is more interesting is that eight out of the last nine years have positive price growth in the last quarter of the year.\u00c2\u00a0 The reason that 2008 didn\u00e2\u20ac\u2122t follow this same path was because the US dollar<\/a> was gaining strength as the financial crisis was occurring.\u00c2\u00a0 Countries around the world were flocking to the dollar as a \u00e2\u20ac\u0153safe\u00e2\u20ac\u009d asset.\u00c2\u00a0 It seems pretty convincing to me that we should see positive growth in the fourth quarter of this year.<\/p>\n

What\u00e2\u20ac\u2122s more is gold has closed higher than the previous year nine years in a row.\u00c2\u00a0 So look for gold to close above $1,087.50.\u00c2\u00a0 At this point with gold near $1,200 I fully expect to see gold to close above $1,200 this year with the possibility of breaching the $1,300 mark.<\/p>\n

Gold\u00e2\u20ac\u2122s volatile day-to-day action is quite normal, what is important is to follow the trends, and that trend is positive.\u00c2\u00a0 We are currently experiencing a nine year bull market with no end in sight as of yet.\u00c2\u00a0 With the Federal Reserve\u00e2\u20ac\u2122s announcement yesterday that they are going to use money to buy government debt in order to keep interest rates low only means more stimulus which is good for gold.\u00c2\u00a0 Everything seems to be pointing in the direction of more quantitative easing as the recovery looses steam.\u00c2\u00a0 As a result look for gold to continue its positive trend<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you have been watching gold prices since the beginning of this year you have seen some major up and down […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[33,1421,86,123],"class_list":["post-345","post","type-post","status-publish","format-standard","hentry","category-blog","tag-bull-market","tag-gold-prices","tag-invest-in-gold","tag-trends"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=345"}],"version-history":[{"count":0,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/345\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}