what are the possibilties for gold prices to come down further?
2006-06-16 04:12:25 · 4 answers · asked by kal 1 in Business & Finance ➔ Investing
A lot. They have been as low as $250 an ounce. Very volatile.
2006-06-16 04:29:00 · answer #1 · answered by Irish 7 · 0⤊ 0⤋
It's possible, but technically (reading a chart), IMO, the lows look like they've been made, short term. If the dollar gains a lot of strength against the major foriegn currencies, then gold may come down, but I don't see it.
If they bag UBL or Hamas caves to Israel, there would be downward pressure on gold prices, IMO. I'm long KRY, a Canadian gold miner with rights to the largest untapped goldfield in the world. The bad news is the goldfield is in Venezuela.
The deal hinges on an enviornental permit being granted by Chavez's govm't. Some expect that permit next week. Stock could roar upwards, no matter what gold does, IMO.
2006-06-16 06:22:01 · answer #2 · answered by Padrefan 3 · 0⤊ 0⤋
if there is another world war or depression or asian financial crisis, gold prices will fall. just like what happen in 1997 gold price was worth 200 plus then but now it has increased lot.
2006-06-22 18:53:42 · answer #3 · answered by youngfellow 2 · 0⤊ 1⤋
100%
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2006-06-16 06:27:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋