Despite the downtrend underway, the gold bugz might sustain a rescue effort if they can keep the price
above the $1620 - 1630 area. Gold took another hit today when the Fed's FOMC minutes indicated
that further QE is on the back burner. This should not be a surprise, but it knocked the wind out of
the market anyway, with gold trading down again at very short term support of around $1645 oz.
For more, scroll down a couple of days. Gold Price
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!