Gold Price Bottom on the 5th of January 2007
GOLDPRICE.ORG Gold Price Sentiment Indicator
The Sentiment Indicator has spiked at almost every major top and bottom in the gold price during the past year. The last spike occurred the day before this most recent correction in the gold price on January 2nd.
GOLDPRICE.ORG Sentiment Indicator Suggests the bottom may be in for the gold price and that now is a good time to buy gold.
On Friday the 5th of January 2007 the GOLDPRICE.ORG Gold Price Sentiment Indicator spiked which suggested an intermediate bottom occurred when the gold price bottomed on Friday the 5th of December at just over $601 per ounce.
Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low, like occurred in October 2006 after the September 2006 low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.