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Gold Continues to Sell off after recent bounce

Commodities / Gold & Silver 2009 Mar 10, 2009 - 04:46 AM GMT

By: Mark_OByrne

Commodities After the bounce in recent days, gold sold off again yesterday and was down 2.77% (silver -3.2%). After the falls seen in the last two weeks a period of consolidation will be needed and gold may fall further prior to rising strongly above the psychological and technical level of $1,000/oz.


With $50 trillion having been wiped off the value of assets internationally (primarily property and equities) there will likely be a long term shift towards risk aversion and wealth preservation. This structural shift appears here to stay for the foreseeable future and gold will be a beneficiary of this

Investors would be wise to continue to “tune out” and ignore short term movements and focus on the big picture fundamentals of declining supply and very robust international demand for physical bullion. Gold likely remains in a secular bull market and corrections are normal and healthy. They force the weak hands out of the market and allow strong hands to increase their allocations providing strong foundations in order to support the next move up in prices.

This was seen very clearly in the 1970’s and in 1976 when gold fell by some 50% (from some $200/oz to some $100/oz) prior to rallying more than 800% to over $850/oz in 1980. We believe that the recent correction will be viewed similarly in the coming years.

By Mark O'Byrne, Executive Director

Gold Investments
63 Fitzwilliam Square
Dublin 2
Ireland
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Gold and Silver Investments Limited
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London,
EC3V 3ND
United Kingdom
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Email info@www.goldassets.co.uk
Web www.goldassets.co.uk

Gold and Silver Investments Ltd. have been awarded the MoneyMate and Investor Magazine Financial Analyst of 2006.

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Gold and Silver Investments Limited hope to inform our clientele of important financial and economic developments and thus help our clientele and prospective clientele understand our rapidly changing global economy and the implications for their livelihoods and wealth.
We focus on the medium and long term global macroeconomic trends and how they pertain to the precious metal markets and our clienteles savings, investments and livelihoods. We emphasise prudence, safety and security as they are of paramount importance in the preservation of wealth.

Financial Regulation: Gold & Silver Investments Limited trading as Gold Investments is regulated by the Financial Regulator as a multi-agency intermediary. Our Financial Regulator Reference Number is 39656. Gold Investments is registered in the Companies Registration Office under Company number 377252 . Registered for VAT under number 6397252A . Codes of Conduct are imposed by the Financial Regulator and can be accessed at www.financialregulator.ie or from the Financial Regulator at PO Box 9138, College Green, Dublin 2, Ireland. Property, Commodities and Precious Metals are not regulated by the Financial Regulator

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. Past experience is not necessarily a guide to future performance.

All the opinions expressed herein are solely those of Gold & Silver Investments Limited and not those of the Perth Mint. They do not reflect the views of the Perth Mint and the Perth Mint accepts no legal liability or responsibility for any claims made or opinions expressed herein.

Mark O'Byrne Archive

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