Gold News

New Year sales start early for gold investors

Monday, 12/18/2006 16:12

The New Year sales have started early today for gold investors wanting to increase their holdings. Gold hasn't been this cheap in terms of the Dollar, Sterling or Euro since late October!

By the London PM fix of $614/oz, in fact, gold had retreated to a level first crossed by this bull market more than 8 months ago.

"After failing to breakthrough $650," says one pundit on the internet, "gold consolidated at lower levels, and is now quietly strengthening."

Gold's strength is now so quiet, it's actually weakening instead.

But is this the time to sell...or buy? With gold failing to make the front-pages...failing to recover its multi-decade peak of May 12th...and failing to close the year strongly...shouldn't you consider the contrarian case for doing what everyone else isn't?

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Adrian Ash is director of research at BullionVault, the physical gold and silver market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and is now a regular contributor to many leading analysis sites including Forbes and a regular guest on BBC national and international radio and television news. Adrian's views on the gold market have been sought by the Financial Times and Economist magazine in London; CNBC, Bloomberg and TheStreet.com in New York; Germany's Der Stern; Italy's Il Sole 24 Ore, and many other respected finance publications.

See the full archive of Adrian Ash articles on GoldNews.

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