Mining Stock Quotes and Mineral & Metal Prices
November 2012 by Staff
...the much more important question is this: does this short-term strong rally necessarily portent a genuine turnaround from the metals share bear market that has been ongoing since mid-2011? For a possible answer, we turn to the long-term, five-year XAU chart.
Unquestionably, it was the other side of the Atlantic Ocean—that is the European side—that provided virtually all the political, economic and social fireworks during the past month.
It should come as no surprise that gold and silver acted similarly, rising sharply during the early hours of the crisis and retreating as tensions abated.
One of the largest conundrums we would point out is the matter of rising interest rates starting to take place in several nations.
While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.
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