The best thing is to check the 24 hr charts. It jumped about 25.00 yesterday and then dropped a bit. That's more likely due to the big dawgs being at play .... either buying or selling large amounts.
One gent that i know of used to buy in Lebanon and sell in London simultaneously. ie: The price in Lebanon might be 1000.00$ an oz. London might be 1002.00 $ an oz. If he moved ten thousand ounces that would be 20k. profit in the twinkling of an eye !
Long term .... i don't see PM's doing all that much. A robust global economy expanding at a phenomenal pace would fuel demand and drive gold prices up. A global economic panic would send investors there as a safe haven and prices would rise.
That doesn't seem to be what's going on. It's more like we're in for a long period of economic malaise where it really isn't doing anything remarkable. That means that money gets harder to come by. Commodities prices are likely to drop till they bottom out and reach some kind of equilibrium.
Oil seems to have hit bottom and rebounded just a tad. Maybe gold has too.
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