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For Gold, All is Calm and Future Remains Bright

By    |   Thursday, 23 Dec 2010 08:26 AM

Gold is biding its time at the moment.

I see a slow trading range for the stocks and the metal continuing during the holiday season.

The dollar has bounced against the euro and British pound in recent days. However, I think this is short-lived. The pound fell on lower-than-expected growth numbers.

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We must remember that the British are making the hard choices by cutting spending and taking on massive austerity.

The Americans are taking the “easy” way out with little to no cuts in spending and cutting taxes. Britain is sacrificing growth in the short term to stabilize the country longer term. The United States is doing just the opposite.

Therefore, after this bounce, I expect the dollar to decline against the pound.

The current strength in the dollar may cause short-term weakness in gold and you should take advantage of that by purchasing gold stocks on pullbacks.

About the Author: David Skarica
David Skarica is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He also writes the Gold Stock Adviser. Discover more by Clicking Here Now.

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DavidSkarica
Gold is biding its time at the moment. I see a slow trading range for the stocks and the metal continuing during the holiday season. The dollar has bounced against the euro and British pound in recent days. However, I think this is short-lived. The pound fell on...
david,skarica,gold,dollar,pound
195
2010-26-23
Thursday, 23 Dec 2010 08:26 AM
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