GOLD ANALYSIS
SUMMER DOLDRUMS, HIGH DOLLAR
Last chance saloon for gold investors to jump in?
The currently stuttering gold price as the northern hemisphere enters the summer season, traditionally a weak time for the gold price, could, some experts believe be the last opportunity to buy gold before an autumnal surge.
Author: Lawrence Williams
Posted: Monday , 29 Jun 2009
LONDON -
Some analysts see the regular annual hiatus in investment in gold during the northern summer season, which is now upon us, coupled with what they see as unwarranted strength in the U.S. Dollar, as providing the last major chance for gold investors to buy at 'reasonable' prices before a big surge in the gold price later in the year. Buy on weakness is the cry - again!
They may have a point, but gold has a nasty habit of defeating its proponents and does seem to have found so far a seemingly insuperable psychological barrier to advancement beyond the US$1,000 level - despite it from time to time surpassing old high points in most other major currencies.
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