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Fools Gold: Have we seen the top in gold prices?

Posted March 6, 2008

"I suppose it was inevitable that the great round number that is the $1,000 mark would be a point of resistance. So is this the end of the run?" — Dominic Frisby

by Dominic Frisby

Baltimore – (TFN):  Both of the key precious metals have mounted a grand assault on significant numbers this week.

Silver made it, charging through the $20 an ounce mark. But gold couldn’t quite make it to $1,000 an ounce. And then we got yesterday’s (Tuesday’s) nasty correction.

I suppose it was inevitable that the great round number that is the $1,000 mark would be a point of resistance. So is this the end of the run?

It’s possible. But I don’t think so…

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I said at the beginning of the year that my precious metals targets were $1,150 - $1,250 an ounce for gold, and $22 - $25 an ounce for silver by the spring, after which we would see a nasty correction. Read on to learn if the gold boom is over or if it’s just begun.

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Posted by Dominic Frisby · Filed Under Gold and Resources 

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