(All contect in these articles should be viewed as opinion by our AP's)
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The Gold Train May be Leaving the Station, Again |
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by: Bill Reavis
February 22nd, 2012
We are seeing aggressive buying in the yellow metal again. Gold jumped to a three-month high on Wednesday, reversing early losses as bullish technical factors triggered fund buying.
Today’s April Gold Futures contract traded $23.50 range as traders and investors continue to choose Gold as their safe haven investment choice. The geo-political tension with Iran has traders concerned that the volatile situation may escalate into a warring environment. And as we Gold bugs are aware a warring environment especially in an Oil producing region traditionally is very "bullish" for Gold. The session traded a very tight range as the April contract ranged between $1750.00 & $1758.00 until noon EST before rallying $1774.20 shortly before the session closed. (Bloomberg Data Feed)
Interestingly, as reported by Yahoo Finance, this spike in demand for physical gold bullion while gold ETF demand slowed. Investors look to increase their physical gold ownership, diversify their portfolios, hedge inflation and seek strong returns. Physical gold bullion offers the ultimate insurance in uncertain economic times, and offers individuals greater control and ownership of their wealth.
Speculators believe that, in the longer term, gold is expected to continue benefiting from low U.S. interest rates, central bank buying, and strong demand from key markets such as China. Goldman Sachs reiterated its positive 12-month view on gold on Wednesday. "We expect U.S. real interest rates to remain lower for longer given our U.S. economics team's expectation for U.S. economic growth to remain slow through 2012," it said. "Consequently, we expect gold prices to continue to rise through 2012, reaching $1,940 an ounce in 12 months, and we continue to recommend a long gold position." (Dow Jones News Wire)
The Survival Plan holds a 33oz. mini gold contract in the account as well technical break-out tend following strategy. The Diversified Commodity Basket and Survival Plan both entered a long position today when gold pushed though resistance levels.
Gold Chart
Regards, Bill Reavis
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239-221-88731
An investment in futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits. You should carefully consider whether futures trading is appropriate for you in light of your investment experience, trading objectives, financial resources, and other relevant circumstances. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
This is provided for informational purposes only. No statement in this blog should be construed as a recommendation to buy or sell a futures/options contract or to provide investment advice. The content provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy and completeness.
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