Gold Primed for a Another Fall
Gold peaked at $1,895 an ounce Sept. 5, 2011, and it has been trending lower since. Its high for 2012 was set Oct. 3 at $1,791.75. From that near-term peak it immediately rolled over to a near-term low of $1,683.50 one month later. It then rebounded again after the re-election of President Obama, to $1,750.50 on Nov. 26, before declining again to about $1,699 as I write.
What is most interesting about the performance of gold and the other precious metals over the course of the past year is that they have trended lower even as monetary stimulus or the expectations of stimulus have increased in all of the world's major economic centers -- the U.S., the European Union, Japan and China. ...369 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.