Will Gold price ever hit $1923.70 again, now that QE3 expectation already gone? This is a chart for your reference...
In a triple top box pattern now. Asian Leading Investment Guru Mr Hu Li Yang does not think it has the strength anymore and he may be right.
We think any upside is limited even if it exceeds that highest mark.
Long term wise, please avoid it, say no to MLM companies making money by asking you to join their business buying gold. We have seen many closed down in Malaysia and Singapore whenever gold price sinks by 10%. Recently I have heard a Singapore company turning hot again... sigh. Sometimes they have no intention of deceiving. It is just that when market is uncertain, a panic will cause a lot of people to cash out, suddenly forcing the company to run out of cash.
So if you think of joining them, be extra careful. Don't be the next Sunshine Empire or Lehman Brothers! If you know what I meant ;).
Rgds
Daniel
www.danielloh.com
