Why Gold Isn’t $2000 yet…

The gold price went over $1,900 and looked as though it was going to mount $2,000, but since then has fallen back to $1,600 and is in the process of consolidating around the lower $1,600 area. It was expected that it would have moved a lot higher faster, but that hasn’t happened, yet.

In the face of Italy’s downgrade to A2 by the ratings Agency, Moody’s summary that,

“There has been a profound loss of confidence in certain European sovereign debt markets, and Moody’s considers that this extremely weak market sentiment will likely persist. It is no longer a temporary problem that might be addressed through liquidity support, and several euro-area governments are increasingly affected by the loss of confidence.”

The downgrading was expected as are further downgrades for the different Eurozone members. Why shouldn’t the gold price be on its way through $2,000 to higher levels?

Continue reading:

via Why Gold Isn’t $2000 yet… – GoldSeek.com.

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