Gold News

Gold Bullion 'showing resistance to firm dollar'

Gold Bullion is on the verge of a rally that will take prices to $1,400, one speculator has suggested.

According to Rick Ackerman, author of daily trading newsletter Rick's Picks, recent Gold Prices are also evidence that the inverse relationship between the precious metal and the dollar could be coming to an end.

"Gold has begun to show resilience whenever the dollar rallies ... a performance that should hearten investors who have patiently awaited an end to a correction that is now in its third month," he wrote.

One-Handed Economist author Howard Katz is also bullish on the prospects of Gold Bullion to rise in value.

He wrote this week that trillion dollar deficits and massive increases in money supply are pushing the "commodity pendulum" upwards, even if many analysts are not acknowledging this fact.

Mr Katz explained: "The media have turned most of the people in the country into a bearish mood. They have been brainwashed to think that everything is going down.

"This means that the very bullish situation in gold is not recognized and has not been discounted in advance."

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