For Gold and Crude Oil Traders
Commodities / Gold & Silver 2009 Oct 12, 2009 - 01:46 PM GMTBy: Charles_Maley
Gold has broken out to all time highs this week trading as high as 1050 or so in the December contract. I wonder however, if this is the launching pad for the well touted $1500-$2000 per ounce.
I would not be surprised at some point to see Gold trade a lot higher but I would think if it’s going to be right now, we would see gold moving higher in all currencies and not just in dollar terms. This leads me to believe dollar weakness might be the main reason for 1050 Gold and not increased demand for Gold.
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Charles Maley
www.viewpointsofacommoditytrader.com
Charles has been in the financial arena since 1980. Charles is a Partner of Angus Jackson Partners, Inc. where he is currently building a track record trading the concepts that has taken thirty years to learn. He uses multiple trading systems to trade over 65 markets with multiple risk management strategies. More importantly he manages the programs in the “Real World”, adjusting for the surprises of inevitable change and random events. Charles keeps a Blog on the concepts, observations, and intuitions that can help all traders become better traders.
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