Gold Ranges
Over the course of the last 12 months this Gold market has provided everything a Gold trader could want for trading Gold. The market has yielded mammoth trading ranges, huge volatility, and good volume. As a trader I certainly realize these are uncertain times in the worlds economies and it appears the threat of pending inflation has many investors scrambling to purchase physical Gold and other precious metals to use as"Leverage" and as an alternative to buying Stock.
Most Investors consider the Gold to be a "Safe Haven" in times of economic strife. Gold is the "anti Dollar" and with Crude Oil prices beginning to rally once again the Gold Community is settling in for what I believe to be continuous roller coaster ride.
With General Motors recent bankruptcy and fall from the Fortune 500 and the continued
rise in unemployment, the continued threat from North Korea launching of nuclear missiles, and the possibilities of more Bail-out to name a few makes this economic atmosphere unlike any I have ever seen in my lifetime.
Like most traders I follow trends and use as much research as possible to make my trading recommendations. With the recent drop in Gold prices (almost $50.00 in a week) I realize you need to be very disciplined these days and I believe there has been profit taking do to the inability to break through the $1000.00 level recently.
This recent sell off may promote buying for the upcoming Wedding Season in India. The India culture purchases huge amounts of GOLD and SILVER... It is thought that of all the Gold that has been refined 12% of it is in Indian households. This is a phenomenal statistic!
Mike Daly / Gold Specialist / PFG 877-294-4669 / 312-775-3014 / mdaly@pfgbest.com
* THERE IS SUBSTANTIAL RISK TRADING FUTURES,OPTIONS, AND FOREX *
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