Trade over $1,600/oz could entice buying back into gold

If Gold prices can move back over $1,600 an ounce, it could attract new investments, said Janet Mirasola, managing director of R.J. O’Brien.

“Especially in uncertain times those looking to find safe havens for the year end and holiday light sessions will look to add some Shiny things to their portfolios.” There is plenty of negative news to go around, she added.

“The headline risk remains high as the world waits to see if China can help stabilize the political situation in North Korea. Continue to watch headline and breaking news for help with short term direction bearing in mind that this begins the last week before Christmas and New Year holidays that will give reason for traders to reduce risk across the board,” Janet concluded. – CommodityOnline

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Posted by admin on Dec 20 2011. Filed under Gold predictions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry