Gold’s Biggest Gain in 12 Weeks Signaling End of ‘Capitulation’

- January 31st, 2011

Bloomberg reports that the “capitulation” in Gold that drove the metal to its worst January in 14 years may be ending as escalating violence in northern Africa spurs demand for a haven and after a key technical indicator held.

Bloomberg reports that the “capitulation” in Gold that drove the metal to its worst January in 14 years may be ending as escalating violence in northern Africa spurs demand for a haven and after a key technical indicator held.

The market news is quoted as saying:

Gold earlier rebounded off its 150-day moving average, an indication the metal may surge 21 percent to a record by the end of June, according to technical analysis by the Hightower Report.

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