You may be asking yourself whether Gold stocks are a buy in this volatile market. You may be asking yourself whether Gold stocks are a buy in this volatile market, with many traders saying Gold is exhibiting strong “Buy” signals. So you may be asking yourself what the Gold price has been doing in the last few months, and in the start to 2013. Well, not much really is the simply answer. It has really been hovering around $1,700, and has not done much in terms of yearly growth. These levels were last seen at the beginning of 2012, so gold investors are not really smiling to the bank as they say. However, when it comes to gold it is always prudent to check out the charts.
Based on some technical analysis, it may be time to pick up some Gold mining stocks and hang on for the ride. In fact, based on the charts, all the analysis points to a strong resumption of an upward trend in the gold price above $2,000.
And with a break above the $2,000 level, gold could potentially sky rocket to a mid $2k level or even hit highs of $3k based on political uncertainty and the recent inference of a global currency war. The reasoning is simple, gold is an inherent store of value, and even the German central bank has recently indicated that is is repatriating its gold bullion back to German shores, specifically from the US.
Do they know something that we don’t? It certainly is an interesting time in the Gold bullion space.