Front Core Capital Analysts Gold Evaluation
Some fundamentalist analysts are frightened by this action of gold. But they said that long-term prospect for gold remains solid, as physical demand is increasing with investors and banks that planning to stock up on secure assets
- (1888PressRelease) December 06, 2011 - The interesting outlook on gold shares is now taking the lead. Gold reached its highest in eight weeks that closed up $32 or 1.82 percent on the week at $1,788.10. This is said to be the worst and an alarming week since September.
Some fundamentalist analysts are frightened by this action of gold. But they said that long-term prospect for gold remains solid, as physical demand is increasing with investors and banks that planning to stock up on secure assets. So better keep an eye on these positive outlooks rather than making any short-term forecast changes.
This Friday, gold went up with the helped of a weaker dollar and buying after the fall prior the session but still heading on for its largest weekly loss since September. A weaker dollar makes precious metals more affordable for holders of other currencies because of dollar-priced commodities.
As a speculation of Front Core Capital on supporting gold, the euro rose against the dollar on Friday. Guessing that ECB may start to bail out bigger euro zone economies that might help lift the embattled bloc's currency by lending to International Monetary Fund.
Front Core Capital views the next few days as still having the possibility of being alarming as last week, there is still a list of evidence that needs support of November. Staying above $1,700 is a very strong gold trend and the key level for this decline is the September 26 that is low at $1,594. If this is broken then this could take gold in a harder decline that is $1,490 to $1,500 level. But if it stays above $1903 level then the market could take the gold to the $2,000 up to $2,200 level as the next target.
- About Front Core Capital -
Front Core Capital is a Venture Capital and Financial service company. Front Core Capital caters to the expectations of knowledgeable and discerning investors who seek the highest return on their investments. Front Core Capital is a wholly independent company and, as such, is not restricted in any of the funds or investment products we may wish to utilize for our clients' wealth management and financial planning purposes.
- Press Contact at Front Core Capital -
Zach Amiran, press-contact ( @ ) frontcorecapital dot com