Gold Prices Have Hit Bottom, May Double Soon: Analysts

(Before It's News)

from NDTV

February tends to be a volatile month for domestic stocks as investors react to speculative news ahead of the annual Budget. But if there is one asset class, which is unlikely to be impacted much by the forthcoming budget, it is gold, experts say.

Prices of the yellow metal have been rising steadily in global markets. On Friday, spot gold hit its highest since October 28, 2015 at $1,174.50. In India, gold prices hit a nine-month high of Rs. 27,700 per 10 grams last week.

Veteran technician Sushil Kedia says gold prices may correct to their recent support of $1,030-$1,040 an ounce, but he expects gold prices to almost double past $2,000 an ounce eventually.

Continue Reading at Profit.NDTV.com…

• Still Report #591 – PEDIGA USA Petition
• 2016′s Economy Begins with a Whimper
• Don’t Bet Your Investments on a Recession – There’s a Third Way
• Deutsche Bank on the Verge of Failure? Stock Price Collapses
• Nikkei Plunges 5% as Japan 10-Year Yield Goes Negative First Time
• Japan Brings Out Asakawa
• What’s Booming in this Economy? Bankruptcy & Restructuring Business “Highest Since Great Recession”
• “Gold’s Fundamentals and Technicals Look Better and Better”
• BLM Burns Rancher Property and Cows to Show They Own This Joint
• FEMA Is Beta Testing a Bank Holiday As the Economy Nears Collapse