With the inevitable chatter of further easing from the ECB and the 'Fed must act soon surely' to monetize Facebook shares, this chart via UBS shows the longer-term support channel suggesting, at least for those who follow technical analysis, that gold's dip may be over...
Bill Fleckenstein, founder and president of Fleckenstein Capital, thinks it will be a very big problem if the ECB does not act soon. Yesterday, the ECB chose not to act, as it left rates unchanged. Fleckenstein commented on the ECB ... Read Post
Support for gold is at $1,612/oz and resistance is at $1,663/oz and $1,684/oz. Gold climbed on Thursday on concerns that the Fed could employ more QE in a further attempt to stimulate the economy. The Fed said that the economic cond... Read Post