Gold prices have fluctuated wildly in the last week as jittery investors reacted to the meltdown in the financial markets and the government’s bailout proposals. Ed Bugos says gold’s fundamentals remain strong, however. He says the recent correction was a mistake by the market and that the outlook for rising inflation and a tumbling dollar makes a strong case for gold. Ed says investors should take advantage of short-term price dips to buy the shiny metal on the cheap.
Gold futures fell for a third day yesterday. They were driven down by sliding crude-oil prices and a strengthening dollar.
For gold bugs, the yellow metal now sells at a depressingly low $808.20 an ounce on the Nymex. There’s worse news on the horizon. Jon Nadler, senior analyst at Kitco Bullion Dealers, says gold “appears poised to retest the $775 zone.”
Gold bug Ed Bugos isn’t sweating it. He says central banks and their inflationary policies will see to it that gold will surge again. Ed has ten very solid reasons why we’re about to see the last of cheap gold.
There is a “very real chance” gold prices could be above $1,000 an ounce by year-end, and hit a new peak beyond that, according to Mark Bristow, CEO of Africa-focused gold miner Randgold Resources (NASDAQ:GOLD).
However, gold prices fell steeply in New York overnight following a stronger dollar. Gold for August delivery closed at $902.90 an ounce on the Nymex yesterday.
Gold bug Ed Bugos sees two possible scenarios for the precious metal. Ed says neither the bulls nor the bears are in charge. Gold prices could fall to $750 an ounce just as easily as they could rise to $1,200 an ounce. More from Ed…
Grading a junior is an important process where many analysts fall short. Grading juniors is much different than grading a major gold producer — that’s why gold bug Ed Bugos has came up with a set of concepts to always look for in my junior recommendations.
Gold prices slipped today. But recovered from an intraday low after the U.S. dollar gave up early gains.
Gold fell to $962.00 an ounce from $963.10 an ounce late in New York on Thursday. That’s still well off its four-month high of $987.75 an ounce hit on Tuesday.
Watch gold prices it $1,200 an ounce by year-end and $2,000 by next summer, says gold bug Ed Bugos. Gold’s rise is being driven by inflation. Ben Bernanke can’t risk doing anything more than try and talk prices down – and that’s not going to work.
After reaching a record level, gold has lost some of its momentum lately. That can be seen in a number of different ways. Gold and Options Trader’s Ed Bugos sees this as only good news. Gold should have another surging summer, and now is the best time for investors to get in by playing the “dips”.
The Bureau of Labor Statistics (BLS) reported another sharp increase in producer prices during March. Finished goods were up 1.1% and intermediate-level goods rose 2.3%, pushing the year-over-year rates to 6.9% and 10.6%, respectively, in the month of March — the biggest yearly increases in this price indicator since 1981.
When I look at the policies that central banks are adopting today, everywhere, I see an inflationary epidemic that is feeding on itself and confirming the bull market in gold.
When I look at the policies that the Central Banks are adopting today, everywhere, I see an inflationary epidemic that is feeding on itself and confirming the bull market in gold.