The International Business Times gives a new price forecast for the gold market. The author of the “Autochartist” blog puts the price of gold at right under $2,000 in the very near future. For those of you who rely on charts for making investment timing decisions, this could be important.
I, however, don’t and probably won’t ever use charts as a very important variable for my investments — unless I’ve already decided to invest and am just waiting for a nice moment. My reasoning is that technical trading is all about the numbers, while economies are only partly about the numbers. There’s nothing close to any level of mathematical certainty when it comes to a market like gold.
Historically speaking, there have certainly been good uses for data and numbers when picking stocks — you have a set income and, therefore, a set interest return you’re looking for. With gold, things are a little different. This is one of the reasons most gold forecasts are wrong.
I just recently acquired a domain related to gold forecasts, and will be updating it from time to time with new emphasis on gold future price predictions. It’ll be free as well. Stay tuned!
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