March 14, 2010

Gold again on rise

Gold bugs argue that even extreme dollar-centric investors should take notice, because of the possibility of momentum buying from European traders influencing U.S. dollar pricing.Gold in U.S. dollars peaked Wednesday at the second-highest close this year, but then moved basically sideways. This did have the effect of turning the Australian service The Privateer's U.S. dollar 5X3 famous free Point and Figure chart distinctly bullish.Gold shares did rather well, closing the week at highs. The Nyse Arca Gold Bugs gained 6.1% on the week, and the PHLX Gold/Silver Index rose 5.8%, although gold only picked up 1.5%, closing at $1134.40.Many services credit gold shares with gold market insight.

For U.S. investors, the financial condition of California is much more risky than the financial condition of Greece. And the latest attack by the U.S. ratings agencies is the decision by Moody's on March 4 to downgrade Deutsche Bank in Germany because of a 'lack of transparency regarding the bank's capital market activities.
"How pathetic is that, given the Fed's continuing refusal to come clean on their U.S. bank bailout activities?"

Privateer suggests this weekend's Icelandic referendum rejecting bank bailout terms may be catalytic: "A very small nation has awakened to the fact that government guarantees can only be made good by the governed. This is a small crack in a very big iceberg."

Contrary opinion seems favourable. The Hulbert Gold Newsletter Sentiment indicator is unchanged from Mark Hulbert's March 2 column at 46.6%. But gold closed Friday almost $20 higher. MarketVane's Bullish Consensus for gold at 77% on Friday compares constructively to early February's multi-month low of 70%.

From the above discussion it is very much clear that gold is picking up the pace again and its really the right time to invest your money in gold.For this you can trust on American Standardized Gold Bureau and can buy gold bars from their.

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