Gold traders are seeing an attractive entry point for investors looking to establish a position in gold coins.
With demand picking up and the price of gold trading close to the fluctuation of currencies – in particular the value of the Euro and the Dollar – investors might want to carefully look at establishing a long position in gold bullion and gold coins.
“There are a lot of gold bulls remaining out there, and they're coming in and buying against the lows we've seen,” Frank Lesh, a trader at FuturePath Trading in Chicago, said in a telephone interview with a newspaper in Canberra, Australia. “We're near the bottom of the recent trading range, and the price may be attractive.”
Other traders were concerned that the price of gold was trading inverse to the strength of the dollar. The strength in the dollar is coming from the uncertainty around Greece and the Euro. As that issue get resolved, the dollar could weaken providing a price support level for the price of gold bullion and gold coins.
Investors should pay close attention to the news and consider starting a long position investing in gold. For more information about investing in gold coins, check out the free details about buying gold on our website at www.aglobalcurrency.com.