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How inevitable is further upside for gold?

Sep 30th, 2011 06:27 by News

30-Sep (MineWeb) — Gold fell over $100 last Friday, Monday continued the carnage and, while the precious metal has regained some ground since, it is still on track for an 11% decline for the week.

The question now on analysts’ minds is, where to from here?

For some, this fall is nothing more than a buying opportunity. As currencies race to the bottom and Greece edges ever closer to default, so gold remains the only safe port in a rapidly approaching storm. And, if it was attractive at 1,800 an ounce, it is even more attractive now.

[source]

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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