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Gold Market Update - 14th Sept

14/9/2012

1 Comment

 
The big FOMC announcement was not a disappointment, as the Fed announced open-ended Quantitive Easing and extended the forecast for low interest rates to mid-2015.

This lit a fire under the gold market, which had sold off in nervous trading immediately before the announcement, powering the market higher through 1750.  The current price is 1772 and gold looks poised for further gains with strong momentum behind the move.

Today's video looks in more detail at yesterday's action and our price targets for this rally leg.
1 Comment
DowTheorist link
14/9/2012 07:32:05 am

The markets "sensed" QE coming already weeks and even months ago. First, the stock market delivered a primary bull market signal on June 29, thereafter gold and silver on August 22 (BTW James Dines independently reached a similar conclusion), the silver and gold miners on Sep 5...so the market was screaming that QE was coming...Here was said clear and loud:

http://www.dowtheoryinvestment.com/2012/09/dow-theory-update-new-market-highs.html

By the way the James Dines interview is worth listing for any gold investor:

http://www.dowtheoryinvestment.com/2012/09/does-he-follow-dow-theory-legendary.html

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