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First of all happy 2012 to all our readers.
After all the ups-and-downs of 2011 gold essentially finished the year up 10% - the 11th year in a row that gold finished up. Our main article looks at the 3 previous great times to buy gold in the past 3 years and ask the question if we are experiencing the 4th great time to buy gold.
For the first week of the year gold has put in a pretty solid showing and is looking to close around $1615/£1047, that's a 4% gain on the week. In terms of pounds gold is showing much more resilience than gold in terms of $s (something our 3rd article explores). The first hurdle for gold in $ terms is the 200 DMA at $1632 - a level gold touched this morning but has since retreated from. Look for this 200 DMA level to be tested some time next week.
In £ terms gold is trading well above its 200 DMA which is at £1019 - look for that level to hold on any pull-backs.
Silver, after performing so brilliantly the first half of 2011, ended up having a disappointing year and closed the year down about 10% - disappointing considering silver was up at one point up over 60%.
Silver has kicked off the year on the right track looking to close around $29, up about 5% on the week. However $30 is still proving a tough barrier to get though and is a level that we haven't seen since December 21st last year. Look for the silver bulls to mount an attempt next week on the $30 level.
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