As we expected and predicted the gold price is climbing in the end of this year. As you see on the chart above, June - July gold reach one of its best price this year and decrease in the end of July. In August, the price is climb up significantly and when this report is posted, New York Spot price is opened for asked price of USD 1313.20/oz
It is predicted that the will decrease a little bit but then climb up again and will reach its peak around November or December. Even the Commerzbank Technical Analysis stated that the gold price may advance to $1,350 in three weeks! Commerzbank technical strategist Axel Rudolph referred to Fibonacci analysis one of the levels used to analyse gold price movement. Gold price dropped 0.1 percent on Sept. 27, the first decline in a week, and has since climbed to a record. Please open this LINK for further information about this analysis.
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