Gold has been rallying these past 4 weeks but suddenly slowed down. Wondering if the price was going back down I went for search of information. In the bloomberg site I found this article: http://www.bloomberg.com/news/2010-08-30/gold-rallying-to-1-500-for-analysts-as-soros-s-bubble-inflates.html
I was like wow, I guess the price of gold is taking a break before it continues its rally. If investors like George Soros, John Paulson are investing in Gold should we be doing it too? They have become economically successful for a reason and continue to be successful so they are doing something right.
Then for those that like to use technical analysis I found this article: http://uk.ibtimes.com/articles/20100831/gold-technical-precious-metals-2010-08-31.htm. According to his article the short term trend will be bearish.
My take as always is that the price for 1 oz of Gold will continue to increase. Yes there will be days where the price will slow down other days it will increase like we have seeing these past 4 weeks.
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