ideas? forecast for the markets in october?
Saturday, October 2, 2010
Gold prices set record high on weaker dollar
Gold prices on friday increased again on friday to new record highs. In the month of September gold has kept pushing higher especially with the dollar performing weekly. The big question in the US markets is gold or equities? Gold hit the price is 1322 an oz on friday. The dollar is particularly weak because of speculation of the FED buying more government debt. This month should be interesting markets were particularly strong in September. It should be interesting to see gold return vs the stock market. October is a historically a terrible month for equities. This is mainly due to black monday 1929, weather the 'october effect' takes place or not this year it should be interesting weather gold keeps going up or not.
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4 comments:
It is more than likely that the gold will continues to sore as investors remain uncertain in the economy. The markets on October, however, is uncertain and is hard to see. Nevertheless,I am sure that investors are well aware of the "october effect;" thus through pool pessimism, the market may take a huge hit this month.
I agree with Mesaban that gold will more than likely increase in price as consumer confidence in the economy is low and people are holding on to their money. However im not to sure whether this will have a huge effect on the market this month.
It will be interesting to see what happens. Especially if there is a sell off people will more likely than not be looking into major brand name stocks for the holiday season. Also it will be interesting to see how holiday season employment will effect the job market this quarter
I can see gold continuing to rise in value. With uncertainty in the stock market, gold is a good substitute for buying and trading stocks. Im interested on how much longer it will be before the economy really starts turning around and consumer confidence starts to rise. Im hoping things turn around and the market begins to rise, so that finding a job and making a reasonable living will be likely after graduation.
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