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The surge in gold prices has led to a golden cross, the technical indicator that's often bullish...

  • Friday, September 21, 2012, 9:55 AM ET
    The surge in gold prices has led to a golden cross, the technical indicator that's often bullish for many markets. But gold is a different story, in the short term: In gold's 12 other golden crosses since 1976, gold prices have averaged a 1% decline over the next week and 2.5% over the next month. “From a technical perspective and based on historical analysis, it’s hard plowing into gold here,” Justin Walters says.
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This news story has 6 comments:

  •  
    How many of those other 12 times were immediately after the Federal Reserve Chairman announcing an ongoing monetisation of US Debt indefinitely into the future, in addition to pumping 40 bln/mo into the mortgage market?

    Brilliant analysis nontheless. </sarcasm>
    21 Sep 2012, 10:50 AM Reply Like
  •  
    after the recent money easing launched by central Federal bank ..... does the decline of Gold's prices to near 1600$ became history ...... i am just wondering !!!!
    21 Sep 2012, 11:26 AM Reply Like
  •  
    Let's seee.....Bernanke's open-ended QE3 virtually ensures a weak dollar as the presses continue to spit out paper money. So what could that possibly mean for the dollar-price of an ounce of gold? Even if the author of this sterling piece is right in the short-run, as long as Bernanke's QE3 policy survives intact a concomitant increase in the dollar-price of gold appears virtually certain. Of course, Bernanke's survival and that of his QE3 policy could be in jeopardy depending upon the outcome of the November election. Hey, no one promised us a rose garden, did they?
    21 Sep 2012, 12:02 PM Reply Like
  •  
    I posted an article of the ' golden cross " on my web site http://bit.ly/MWC1hH What interests me is the juniors are still undervalued and to an extent unloved . Look at B2Gold (BTO)which made a $1B acquisition this week - and got hammered for it- now rebounding.
    21 Sep 2012, 01:37 PM Reply Like
  •  
    If I was a gold bug (I'm not), I would be concerned about the fact that insiders of several gold producers have been heavy sellers in the past few weeks. Don't they know that the consensus amongst a clear majority of analysts and SA commentators is that gold is going up, big time? I don't profess to know where gold is going and accordingly, have zero holdings, but, something isn't adding up here.
    22 Sep 2012, 01:26 AM Reply Like
  •  
    I do not trust single number "statistics" which purport to represent
    multi-dimensional systems. The golden cross is such a notion.
    As far as gold is concerned, wholesale printing of paper money
    must inevitably cause a rise in the dollar price of gold, even if this
    merely protects ones savings against inflation. One may make a profit from a top-side overshoot but the principal objective is long
    term safety.
    24 Sep 2012, 04:22 AM Reply Like
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