Roses may be more traditional, but if you want to really treat yourself this Valentine’s Day, there’s a tremendous window to buy open right now – and it could be one of the best chances this quarter to build your gold holdings.
The opportunity to acquire gold at a lower rate than we have seen for three months or more comes on the back of a higher than expected inflation reading. New data released yesterday (Tuesday) by the U.S. Bureau of Labor Statistics showed a 0.3% increase in the Consumer Price Index (CPI) and a 3.9% increase in annual core inflation.
With the CPI slightly above the 0.2% economists had expected to see, and core inflation running a little hotter than the 3.7% forecast, the gold bulls have found themselves temporarily corralled. A stronger dollar index and higher Treasury yields pushed gold prices down by £26 ($33). This opens up a very interesting window to buy – if you’re a regular reader you’ll know that analysts are unanimous in their advice to always buy the dip.
During trading this morning (Wednesday), prices were sitting around the £1,585 ($1,991) marker. Don’t miss your chance. Buy now before prices rise once again.
