What on earth’s going on in the gold market?

Posted by Lawrence Williams - MineWeb

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Logic suggests that the gold price should be riding much higher than it is at present – what is keeping it down?’

The gold market has been denying all logic.  Virtually everything which is happening in the global economy suggests that the price should be rising – and probably rising fast, yet it has been unable to move out of a trading range of between around $1680 – $1750 – and every time it nears the top of this range it gets knocked back again.  It certainly has made some weak holders pull out of the gold market altogether, while other half believers are beginning to find the call from gold experts that they should use the dips as buying opportunities frustrating to say the least – and they may fall out of the market too.

It’s actually interesting to look at the chart of the gold price running back ten years or so:


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