Patience is Main thing... Its a good call to buy now
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Good call to buy now for gold.
If you understand the charts, I am sure, you will be with me.
That gold will climb up again.
Best of luck in making good profit.
Cheers!!
Good call to buy now for gold.
A Canadian Company Plans to REPURCHASE 24,000 OUNCES OF GOLD.
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FOMC react: Ian Shepherdson, Chief U.S. Economist at HFE, says "the
Carving out fresh highs for the day around Y112.46 as the
At their policy meeting earlier this month, Federal Reserve officials appear very worried about rising prices and expectations among consumers that prices will rise further, according to a summary of their meeting released TODAY ( WEDNESDAY)
Fed chief Ben Bernanke has called on three of the central bank's most experienced officials to explore a broad range of issues related to how the Fed talks to financial markets. The subcommittee of the Federal Open Market Committee will be chaired by Fed governor Donald Kohn and include Minneapolis Fed president Gary Stern and San Francisco Fed president Janet Yellen, the Fed announced at the end of its summary of the FOMC's May 10 meeting. Kohn told the FOMC that the "objective of the subcommittee was to help the FOMC frame and organize discussion of a broad range of such issues over coming meetings."
At their policy meeting earlier this month, Federal Reserve officials appear very worried about rising prices and expectations among consumers that prices will rise further, according to a summary of their meeting released.
Edges higher, to $1.2845 area, in the wake of the FOMC
Traders can judge the reaction of the Dow Industrials to the Fed minutes by moves away from the 11130.67 technical level. A higher move would be targeting 11280.20. But charts say that trading below 11130.47 would precipitate a roughly 100-point drop and direct the average to its technical breakdown level at 10884.57.
Slower house Appreciation and rising energy Prices should contain the Economy.
The minutes to the FOMC minutes remain unsure about next rate Increase.
May 10 FOMC minutes: reiterate inflation fears and Fed's desire to stop
Gold futures should reach the $850 an ounce level sometime this year, propelled by dollar weakness and the need of foreign governments to diversify away from the U.S. currency, James Turk, chairman and founder of GoldMoney.com, said Wednesday. Gold futures peaked at a closing high of $721.50 an ounce on May 11 and have been trending lower since then. However, Turk characterized the weakness seen this month as a correction, and predicted further gains for gold. Prior to this month's market action, many analysts had expected gold futures to top $1,000 sometime this year. Turk now expects to see gold above $1,000 in 2007. (Corrects spelling of analyst's name.)
The dollar is placid ahead of the FOMC minutes, after firming some during the afternoon following a strong Chicago PMI. End of month position squaring and a drop in oil prices may also be keeping the dollar supported. Recently, euro at $1.2831 from $1.2866 from late Tuesday. The dollar is at Y112.34 from Y112.22 late Tuesday. Sterling is trading at $1.8734 from $1.8837.
Keep in mind FOMC was not aware of unraveling stock markets and worries about global growth and risk at their May 10 Meeting. At that time, risk and volatility were low and everything looked rosy.
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