Home > Boards > Canadian > Basic Materials > Detour Gold Corporation (TSX:DGC)

Maybe we will have a Chinese Lunar New

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
goldenpolarbear Member Profile
 
Followed By 18
Posts 7,094
Boards Moderated 1
Alias Born 03/02/13
160x600 placeholder
goldenpolarbear   Friday, 12/06/13 09:46:00 PM
Re: None
Post # of 110 
Maybe we will have a Chinese Lunar New Year Festival POG POP?

While gold’s directional-movement indicator shows a bearish trend strengthened over the past month, the 14-day relative-strength index fell earlier this week to near 30, a level that suggests to some analysts using technical charts that the price may be poised to rebound. Bullion jumped 1.7 percent on Dec. 4, the most in six weeks. The RSI gauge was at 38.1 today.

http://www.bloomberg.com/news/2013-12-06/gold-bearish-outlook-extended-as-price-nears-1-200-commodities.html

The Chinese are becoming important purchasers of bullion so...

Gold looks oversold, and purchases may increase in China ahead of the Lunar New Year festival at the end of January, said Mark O’Byrne, a director at brokerage GoldCore Ltd. in Dublin. Consumer demand in the nation rose 30 percent in the 12 months through September and is set to overtake India as the world’s biggest user this year, the London-based World Gold Council said.

Cheers,
GPB



Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist