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Auguries - November 24, 2012

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canucklehead80   Monday, 11/26/12 04:24:15 AM
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Auguries - November 24, 2012
The Wolf At The Door
Kevin Michael Grace


Gold was up (at press time) $37.60 (+2.2%) for the week to $1,751.40, and silver was up $1.54 (+4.7%) to $34.21. Bloomberg reported that gold reached a five-week high, and silver reached a six-week high “as the [US] dollar’s drop spurred demand for the metals as alternative investments.”

Reuters reported that, according to UBS, gold had faced “a key technical level” at $1,739.10. “Our technical strategist notes that a break above this level, which is the month’s high, would be a crucial bullish development that would open up $1,748.95, the 62% percent retracement of the October-November selloff ahead of $1,794.80, the October high.” Having risen $23.20 Friday, gold has already gained back that 62% and more.

Read the rest of this article about gold prices. http://resourceswire.com/2012/11/auguries-9/

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