Last year in the first quarter I was able to spot a good buying opportunity in gold around USD878.81 level since then gold moved up to USD1226.28 by last quarter in 2009.
After hitting some targets watched by some of the top investors gold kept on moving higher: Meaning giving bonus rounds to a lot of investors that entered at the right time. However, leaving a hole lot behind the game as well...which are waiting on the side lines to invest in this commodity this year.
This year started with a pressure on gold prices as a lot of investors entered the dollar market which brought the gold prices down (A pull back). Which I consider a great opportunity to enter in this commodity (Lower the price the better). Gold stock (Homestake mining) are looking to give investor good amount of gains this year as well. However, when the present pressure is released gold will again be a commodity that will offer its investors good amount of return by end of the year (Last Quarter).
Buying around USD1070/1080 is a very good price: USD1120 good price:
My target on the gold is around USD1500 this year.
Note:
This is a fundamental approach based on the information I attain by reading and listening to various perspectives of different investors around the world.
Technically USD1074 is a key level for me. If we can hold that I am bullish above that level.
No comments:
Post a Comment