The price of gold has exploded this year with gold now trading around $1800 and close to the all-time highs it set on the technical analysis charts back eight years ago. Mining stocks and gold have both outperforming the stock market this year, but people are worried about the risks of a correction with gold trading near $1800.
How risky is this situation for new gold buying now?
I asked Jordon-Roy Bryne of www.thedailygold.com this question and more.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.