Gold prices are falling!!! I really still can’t believe we did not hit the $1800 mark. It seems that U.S. Economic data has been better the last couple of weeks and its scaring investors a little. Investors are scared that stronger U.S Economic data will cause the federal Reserve to start shutting down it’s monetary stimulus. There is also no new news of Europe and inflation numbers coming in a little lower out of China that are bringing down gold. I’m still bullish, as I think it is way to early and premature to determine that better U.S. economic data will have the Federal Reserve curb their monetary stimulus policies. The numbers aren’t that great in my opinion. This short term weakness may take us down closer to the $1700 an ounce mark.
I believe that it’s the best time to buy during times of weakness and this is one of them. I would however wait a couple of days because I think that the sell off going on may drive gold prices slightly lower over the next couple of days. Long term Bullish gold investors are looking for a re-entry point and I think it’s coming up some time this week. I know a lot long term gold investors started selling once it began to dip around the $1760 mark to book profits, knowing that their selling will contribute to sending the market much lower. They will probably be getting back in low $1700 and wait for the next move. With Gold’s current spot price of $1737 you can get a great deal with Silvergoldbull.com coupons for clearance gold bars, free shipping and best price guarantee.
