Wednesday, May 15, 2013

Is Crude Oil Ready For A Breakout And Would It Help Gold?

by Przemyslaw Radomski
Gold Seek


Jim Rogers recently said in an interview to Morningstar, that he is not disturbed by the recent tumble in gold prices.
“Gold had gone up 12 years in a row, without a down year, which is extremely unusual in any asset. Equally important, gold has only had one 30% correction in 12 years. Again, that is extremely unusual. Most things correct 30-40% every year or two. So the action in gold has been very unique and gold needed a correction. The main thing that caused it, as far as I am concerned, was that the market was ready. It needed it and it is good for gold to have a proper correction,” said Rogers. We agree. At the same time we would like to point out that this has no implications on the short term.
How does he see the future for gold?
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