August: the month when gold prices hit new highs 02.09.2012

In August, gold prices finally broke out of their months-long consolidation period. As most analysts had expected, this was an upward breakout. What...

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  • Author of the entry: Mennica Skarbowa
  • Date of entry:

In August, gold prices finally broke out of their months-long consolidation period. As most analysts had expected, this breakout was upward. Interestingly, Erste Group analysts had predicted this fact, and even the timing of the breakout in August. Interestingly, they also predict that gold prices will exceed $2,000/ounce in the next 12 months, which at the current exchange rate of PLN 6,500/ounce translates to over PLN 209/g. We are keeping our fingers crossed that this will indeed happen. 

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