Gold’s Artificial Lows – Price Surge Coming

Daily Gold Prices

Today’s Gold prices were USD 1,094.80, EUR 998.50 & GBP 707.74 per ounce.
Friday’s Gold prices were USD 1,091.35, EUR 998.99 & GBP 703.01 per ounce.
[LBMA AM prices]

Last week, gold and silver were mixed with gold marginally lower for the week – down 0.28% to $1,092.10 and silver up 0.4% to $14.77 per ounce.

Gold Price in USD – 1 Year

This morning, gold is 0.1% higher to $1,096 per ounce. Silver is up 0.74% to $15.02 per ounce.

Platinum and palladium are 0.74% and 0.5% higher to $973 and $607 per ounce respectively.

Gold’s Artificial Lows – Price Surge Coming

• With gold languishing near deep secular lows, its technicals look hopelessly broken
• Sentiment is off-the-charts bearish, with traders universally convinced gold is doomed to spiral lower indefinitely

• But gold’s weakness this year is very deceiving, as it wasn’t the product of global fundamental supply-and-demand forces
• Extreme record shorting by American futures speculators spawned these artificial lows
• Gold’s imminent short-covering rally should be the largest ever, coming from record extremes

Continue reading Gold’s Artificial Lows  by Adam Hamilton

******** 

Courtesy of http://www.goldcore.com/