New York (April 24, 2013)—In recent days, gold has been on a roller-coaster. It hit a low of $1,321 an ounce in mid-April – a drop of nearly 11 percent since its April high and 25 percent lower than its historic high in August 2011 – then rebounded to stabilize at around $1,400. When the price drops, however, it can also signal a great opportunity to buy.
The sell-off in silver saw the price drop about 16 percent in April, and it currently down year-to-date 24.65%. Silver sits over 60% percent lower than its recent high of $48.70 in April 2011.
Regardless, silver seems to taken an over-reacted beating and underpriced taking one of the largest beatings since the 1980’s, and it has plenty of room to go much higher. This represents a great time to buy.
By Frank Tang and Clara Denina NEW YORK/LONDON (Reuters) - Gold prices rose on Wednesday along with crude oil, with physical buyers scooping up the precious metal after a sell-off sent bullion to a two-year ...
Gold Drops Reinforces ‘Meridian’ Line
* ECB cuts main interest rate by 25 bps to 0.5 percent * Asian physical buying slows after recent surge -dealers * Gold ETFs holdings lowest since September 2009 * Coming up: U.S. April nonfarm payrolls ...
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