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The New Bargain Price For Gold

Commodities / Gold and Silver 2010 Mar 26, 2010 - 04:45 AM GMT

By: DailyWealth

Commodities

For gold buyers, $1,050 is the new $900.

As today's chart shows, gold spent a good chunk of 2009 drifting around $950 per ounce. During this drift, gold dropped into the $900 area twice... which offered the gold buyer a chance to buy a little cheaper than the "normal" price of $950.


This "$950 is normal" period didn't last long, however. Gold staged an amazing three-month move from $950 to $1,200 late last year. This left gold incredibly "overstretched" to the upside.

Now that gold has had time to collect itself and "simmer" after its huge run, we see buyers and sellers are now comfortable with about $1,100 per ounce. The yellow metal has drifted along this level for four months... and a dip down to $1,050 is now the new bargain price for gold.


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The DailyWealth Investment Philosophy: In a nutshell, my investment philosophy is this: Buy things of extraordinary value at a time when nobody else wants them. Then sell when people are willing to pay any price. You see, at DailyWealth, we believe most investors take way too much risk. Our mission is to show you how to avoid risky investments, and how to avoid what the average investor is doing. I believe that you can make a lot of money – and do it safely – by simply doing the opposite of what is most popular.

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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