31
July
Gold May Fall, Heading for ‘Summer Doldrum Lows,’ Survey Shows
31 July 2009 Bloomberg.com
“Gold’s trend looks to be down again,” Mark O’Byrne, executive director of Goldcore Ltd. in Dublin, said by e-mail. Gold is “likely to see the summer doldrum lows in the next two weeks,” and may decline to as low as $864, followed by a rebound, he said. “Buying gold during the summer doldrums has been a winning trade for most of the last 34 years and especially in the last seven years,” according to O’Byrne.
The weekly gold survey has forecast prices accurately in 157 of 272 weeks, or 58 percent of the time.
http://www.bloomberg.com/apps/news?pid=20601102&sid=aA1TCOpJYI4Q
