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Some Things Behind Bullish Gold
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Some Things Behind Bullish Gold
Gold prices keep on the run up to other fresh highs after recording $1,920 on July 27. As of the time of writing, gold spot prices have set a new historic record of $2,075.00 for the moment on August 6, while COMEX Gold futures saw its most trading volume in December with the record high of $2,089.20. Financial markets are now enthused to discuss when gold will find its peak？To get more news about WikiFX, you can visit wikifx news official website.
Currently, rational analyses suggest that gold prices will peak at $2,100-2,300. In other words, it may shrink at any time. Thus day traders should stay circumspect and prepare themselves to preempt risks and losses at every step. On the contrary, some other analyses exaggerate the peak at $3,000-10,000 for eye catching. I cannot deny them as they are possible to be true after decades. For the foreseeable future, however, they can find no chance unless there is a large-scale military conflict among nations in the short term.
Long-term investors might go bargaining hunting after the sharp correction in gold prices. Here are some suggestions for them:
Firstly, dont hold physical gold. Such way costs most considering the spreads and storage.Secondly, many gold mining stocks may not fully catch the uptrend of gold prices. Whats worse, some of them are just nominally called so but taking other mineral products as the major part indeed while only keeping a fraction of gold. In this regard, it is necessary to check relevant company information before purchases.
Thirdly, gold holders with a long time horizon might think about the related ETF. It is quite suitable to be held for the long term because of its close lockstep with gold prices.