Gold Price Likely To Rebound On Next Year January


















Due to USD value moving up gold price have drop from history high at above USD 1,220 per ounce. In its tumble since 2 December gold has already corrected most of its overbought-ness. However, the rally I was looking for Friday evening came overnight. Gold reached $1,142 but 8:00 a.m. Eastern then fell until noon and settled flatly around $1,115, where it languisheth still. At the Comex close (1:30 Eastern) gold registered $1,119.40, down $6.30.

Because it is trading lower in the aftermarket, and because gold's low close at $1,120 has now been violated and see a correction below $1,050. Rest of the year gold will edge sideways and higher. After 1 January the rally should resume and carry to a high sometime mid-February to mid-March.

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