The gold price on the last trading day of 2008 must close higher than the closing gold price on the last trading day of 2007 if the pattern of continuous year to year closing strength is to be maintained. The pattern of the year end closing gold price being higher than the previous years closing gold price has been maintained since the year 2000. The list posted below represents the closing year end gold price for the years 2000 through 2007.
YEAR CLOSING PRICE
2000…………….$273.60
2001…………….$279.00
2002…………….$348.20
2003 ………...….$416.10
2004…………….$438.40
2005…………….$518.90
2006…………….$638.00
2007…………….$838.00
2008…………….$ ??
The current price of gold as of November 14, 2008 is $742.50. There are approximately 26 trading days left in 2008.
If gold does not exceed last years closing price of $838 by the last day of trading in 2008 it will be sending a signal. This would be the first year since the gold bull market began that a year end closing price failed to close above the previous year’s closing price. It has been and still is my contention that the next important long term high for gold bullion will arrive early in the year 2010.
$839 or higher is the target for the 2008 closing year end gold price.
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YEAR CLOSING PRICE
2000…………….$273.60
2001…………….$279.00
2002…………….$348.20
2003 ………...….$416.10
2004…………….$438.40
2005…………….$518.90
2006…………….$638.00
2007…………….$838.00
2008…………….$ ??
The current price of gold as of November 14, 2008 is $742.50. There are approximately 26 trading days left in 2008.
If gold does not exceed last years closing price of $838 by the last day of trading in 2008 it will be sending a signal. This would be the first year since the gold bull market began that a year end closing price failed to close above the previous year’s closing price. It has been and still is my contention that the next important long term high for gold bullion will arrive early in the year 2010.
$839 or higher is the target for the 2008 closing year end gold price.
Guys>>> Want More??
just give me a FEEDBACK
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