New York, NY (PRWEB) February 22, 2013
Technical indicators have gold futures down, and the spot price is the lowest it has been since July. The SPDR Gold Trust, the largest gold-backed exchange-traded fund, reported the biggest outflow it has seen in 18 months. Such phenomena have been influenced by increased faith and interest in the stock market, which is experiencing some long-awaited upward momentum. The Dow Jones Industrial Average broke the 14,000 point mark on February 19th, a five-year high for the market indicator. Despite these recent trends in the markets and their effects on the gold price, however, analysts still foresee higher prices in gold’s future, reports American gold dealer, Gold Price.
Arthur McGuire, vice president of Gold Price, says, “Gold investors shouldn’t fear gold’s recent downturn. It’s actually beneficial to those looking to invest in gold for profit and wealth protection as it presents a great buying opportunity. Yes, the stock market is looking very attractive right now, but it also did following QE 1 and 2, and all that money subsequently revolved back into gold. There is no reason to expect anything different this time around with QE 3. Short-term technical indicators have gold down for now, but it will likely rebound. Beneath all of this is the underlying foundation that caused gold to increase over 550% in the last 12 years, and these fundamentals all but guarantee that gold is destined for new heights.”
Gold Price (GoldPrice.net) is a leading precious metals advisor since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver, such as modern bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.goldprice.net or calling 1-800-767-1423.