October 2, 2012

Gold Market Dip Buying Strategy

By EconMatters

After the ECB and FOMC news briefly drove gold futures just a nudge above $1800, buyers have been lacking to push gold through this level with a bust out to test the next level of $1900 and $1920.  It is this kind of momentum that will be required to make a serious push to $2000. The $2000 price point is what all the gold bugs have said is a foregone conclusion, but has yet to actually materialize even with all the money printing, currency debasing, and outright doubts over standard measures for retaining stores of value. So far, gold has just been a trading market for the past year with sellers fading the peaks and buyers buying the dips with no long-term trend being established....Continue Reading at Seeking Alpha

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