The primary trend for gold remains very much intact and upward. The recent drop in price from the historical high of $1265 to $1155 looks to have been nothing more than a small correction in the bigger picture. However, I expect to see some formidable resistance at $1250 level. But, I believe that this level will be breached and we will soon see a new historical high for the gold price.
David Levenstein is a leading expert on investing in precious metals .He brings over 30 years experience in futures, equities, forex and bullion.
in Mineweb.com
Related: SPDR Gold Trust (ETF) (GLD) , Market Vectors Gold Miners ETF (GDX) , Newmont Mining Corporation (NEM) , Royal Gold, Inc. (RGLD), Coeur d'Alene Mines Corporation (CDE), Goldcorp Inc. (USA) (GG)
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