Friday, September 21, 2012

Gold Has Completed The 'Golden Cross'


Gold edged down today due to dollar strength and profit taking as speculators and some investors booked profits on 16% price gains from this year’s low.

Gold continues to see smart money diversification as central banks from the ECB and the Fed to the BOJ have all announced ‘stimulus’ or money debasement measures which has led investors to seek gold as an inflation hedge.

All eyes will be on China as perhaps the next to announce action after today’s data showed further contraction in its manufacturing sector for the 11th consecutive month. (more)

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