September, which is historically the best performing month for gold prices, has officially come to a conclusion. Accordingly, it is time to review’s gold performance over the last 30 days. On Augut 31, 2010, gold closed at $1,246 per ounce. Halfway through September, we reported that gold had reached a high of $1,278.30, resulting in an increase of $32.30 per ounce or 2.6%. Well, gold’s momentum continued for most of the rest of September and gold closed at $1,307.50, resulting in an increase of $61.50 per ounce or 4.94%, nearly twice the historical September increase of 2.5%. In our mid-September post, http://babybulltwits.wordpress.com/2010/09/16/mid-september-gold-check/, we predicted that gold would outperform its historical results. So, what do we see for the balance of 2010? The answer is “somewhere North of where we are today.” A lot can happen between now and the end of the year, but we think gold will end up between $1,360 and $1,375 an ounce. As we said in mid-September, stay tuned.
This entry was posted on Thursday, September 30th, 2010 at 4:00 pm and is filed under Gold, Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
BabyBulls End of September Gold Check
September, which is historically the best performing month for gold prices, has officially come to a conclusion. Accordingly, it is time to review’s gold performance over the last 30 days. On Augut 31, 2010, gold closed at $1,246 per ounce. Halfway through September, we reported that gold had reached a high of $1,278.30, resulting in an increase of $32.30 per ounce or 2.6%. Well, gold’s momentum continued for most of the rest of September and gold closed at $1,307.50, resulting in an increase of $61.50 per ounce or 4.94%, nearly twice the historical September increase of 2.5%. In our mid-September post, http://babybulltwits.wordpress.com/2010/09/16/mid-september-gold-check/, we predicted that gold would outperform its historical results. So, what do we see for the balance of 2010? The answer is “somewhere North of where we are today.” A lot can happen between now and the end of the year, but we think gold will end up between $1,360 and $1,375 an ounce. As we said in mid-September, stay tuned.
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This entry was posted on Thursday, September 30th, 2010 at 4:00 pm and is filed under Gold, Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.