Jeffrey Nichols

Gold in the Low $600s?

Gold’s relative price strength in recent days — in the face of plummeting U.S. consumer and producer prices, declining prices for oil and other (non-precious metals) commodities, and lower multi-year lows in world equity markets — suggests that the yellow metal, technically speaking, may be building a solid base in the $330 to $350 range from which to embark on a sustainable advance into higher territory.

It wouldn’t surprise me if in our lifetimes we never see gold back below $700/oz.rised if gold never again drops below $700 an ounce in our lifetimes.