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Investment in Stocks - Forum for sharing info about stocks and options.
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Posted by http://www.mystockpicks.tk on July 17, 2008, 12:56 pm
I blame high oil prices on gold.
Well, I=92m not completely serious but I can=92t help but feel that gold
isn=92t holding up its end of the bargain. Investors are dumping their
money into oil because nothing else is going up =96 including gold.
That=92s a bit strange. Gold loves uncertainty and uncertainty loves
gold.
But gold usually takes the summer off. I thought if there was ever to
be an exception, this summer would be it. Gold is a better hedge than
oil against inflation. Ultimately, oil pays attention to its own
fundamentals. For example, oil imports for the month of May dropped
over 10 percent in the U.S. If other countries follow suit (that=92s a
big =93if=94), oil will drop. Gold=92s value stands apart from what is
happening in any market or any country. It is the ultimate hedge
against inflation or recession or wars or natural disasters or mass
bailouts. All of these are on the table as practical (not just
theoretical) concerns. Some are happening already.
It=92s gold=92s time. Its summer hiatus is over. And it=92s already started
to make its move up the charts.
To View Chart Visit Blogsite : http://www.mystockpicks.tk
The ETF GLD (which tracks the price of gold) has been trending
sideways since March. But its 20-day moving average crossed above its
50-day at the beginning of July =96 a very bullish sign. And on Friday,
GLD convincingly broke through its previous resistance with strong
volume. Gold for August delivery ended the day at $960.60 an ounce =96
up $18.60 for the day.
Back in 2005, gold made its move a little early =96 in July. Looks like
history is about to repeat itself.
By Andrew Gordon
Posted 15 July 2008
for more articles visit http://www.ezycash.tk
Disclaimer...The subject matters expressed above is based purely on
technical analysis and personal opinions of the writer. it is not a
solicitation to buy or sell.
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