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getredneck

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getredneck

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Wednesday, 10/12/2011 12:34:41 PM

Wednesday, October 12, 2011 12:34:41 PM

Post# of 233419
Gold found a bottom, HC looking good!
A fall in the value of the dollar. The gold price is not just rising because of that. In reality it is ‘flooring' between $1,600 and $1,670. This is prompting Asia to believe that gold prices will not fall below $1,600 making current entry prices a buying opportunity.
I have one word, Handcamp
While traders can drive prices both ways easily, the weight of physical demand wins out in time. The last few days has seen the London Fix increasingly dominate the gold price. This tells us that we are watching physical demand win out in the consolidation pattern we are experiencing now.

Julian D.W. Phillips
www.goldforecaster.com
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