Wednesday, October 05, 2011
Gold is one of the best precious metals and we have been advocating buying gold at declines. We had started saying BUY Gold, when the price was $900 onwards. Now Gold is at $1628 for an ounce and still going strong.
The Oil Ministers decided in 2009 to trade oil in gold, yuan, yen and euro, as the Dollar was showing signs of weakness. This is one of the reasons why Gold is going up.
We have reports that billionaires like Soros and Bufett etc are taking up great positions in gold and buying mining companies.
It was observed that the Gold Price is inversely proportional to the Dollex, the USDX. Yesterday USDX went up by one point and gold declined from 1674 to 1645. Now it is at 1628 per ounce.
Jupiter represents Gold in Astrology. Now Jupiter in Aries is responsible for the secondary reaction happening in Gold. From a high of 1900 dollars, it is now at 1628.
You can draw your own conclusions !