Gold Breaking out again!

Gold Breaking out again!

Gold last week brought out the buyers as stock resumed their downward spiral after a brief rally earlier in the week.  It hit just under $1,250 per ounce and ended Friday's trade at about $1,230.  Looking at the chart you can see the breakout to new nominal highs.  i think we go higher in weeks to come.


125 on this chart equates to about $1,250 minus transaction costs for the ETF for Gold Bullion.  Keep printing money central banks of the world and we will see higher and higher prices.



Michael Cantwell

Sales Manager, Envoy Mortgage, Palm Beach Gardens Florida

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Comment balloon 2 commentsMichael Cantwell • May 16 2010 08:54PM


Doesn't say much for confidence in the economy/housing market...

Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) about 10 years ago

Doesn't bode well for the future of interest rates.  Buyers may want to consider that if they're thinking about waiting to buy.

Posted by Loan Survivor Real Estate Financing Expert (Purchases, First Time Buyers, Pre-Approvals, Refinance) about 10 years ago

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