Gold still on track to hit $1,400 an ounce
“In her latest precious-metals report Thursday, Georgette Boele, coordinator of foreign exchange and precious metals strategy at ABN AMRO, said that the metal’s technical outlook supports higher prices. ‘Despite the recent sharp decline in prices, prices are still above the 200-day moving average at around $1,250 per ounce,’ Boele said. ‘We are confident that prices will stay above this level. It is possible that prices drop towards this level and test it, but this would be an opportunity to position for higher gold prices.'”
USAGOLD note: Gold popped back over the $1300 mark in overnight trading . . . . Here at USAGOLD we are beginning to see a slow but sure return to a buy the dip mentality among investors.