Gold has been surging since 2001, and closed over $400 per ounce for the first time since March 1996. Be it terrorism fears, economic re-inflation, or the weak dollar, the Macro environment has been kind to all the precious metals.

Gold (15 Year Chart)
Gold.gif
Source: Chart of the Day

While the long-term trend is still up, it is worth noting that gold should consolidate technically, or even pull back to the lower support line. Expect the yellow metal to take a pause now that its crossed over the rarefied $400 per ounce territory.

Random Items:
Portrait of the Consumer
Saving Capitalism From the Capitalists
When ‘Unemployment’ Didn’t Exist
Santa Claus Rally?
Gartner Prediction: Massive IT worker disruption kills 50% of IT suppliers by 2008
Service sector growth slows in Nov., but jobs are created
Report: New York Out of Recession

Quote of the Day:
“As fewer and fewer people have confidence in paper as a store of value, the price of gold will continue to rise.” – Jerome F. Smith

Category: Finance, Media

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.