Gold plunged in New York, plummeting to its lowest drop in 18 months “on speculation that financial markets may be stabilizing, eroding the appeal of the precious metal as a haven.” - Bloomberg News via the Financial Post, August 24, 2011
Bullion’s fall has exceeded 5% within the past two days (as of August 24, 2011), eroding the gains of the past two weeks that sent the metal up by 16% since August 5 to a record $1917.90 an ounce on August 23. On August 16, according to the article, Wells Fargo & Co said that …“rising speculative demand from investors had pushed the market into a “bubble that is poised to burst.””
“Before today, gold’s 14-day relative strength had been above 70 since Aug. 8, a signal to technical traders that prices are poised to fall.” – August 24, 2011
As a financial advisor and wealth management expert, this is the kind of information that your clients need to be aware of. The best and quickest way to get your information across to the greatest number of people is via social media. Why not join one of our workshops and we’ll show you how to take full advantage of all social networking has to offer you as a business professional. For further information and a schedule of our workshops, please visit:
No comments:
Post a Comment